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Hedge Funds Are Selling Titan International Inc (TWI)

Titan International Inc (NYSE:TWI) was in 12 hedge funds’ portfolio at the end of March. TWI investors should pay attention to a decrease in support from the world’s most elite money managers in recent months. There were 19 hedge funds in our database with TWI holdings at the end of the previous quarter.

In the financial world, there are a multitude of metrics investors can use to watch the equity markets. A pair of the best are hedge fund and insider trading movement. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the best money managers can outpace the market by a very impressive margin (see just how much).

Just as beneficial, optimistic insider trading sentiment is another way to break down the world of equities. As the old adage goes: there are plenty of motivations for a corporate insider to downsize shares of his or her company, but just one, very clear reason why they would behave bullishly. Several academic studies have demonstrated the impressive potential of this tactic if piggybackers know where to look (learn more here).

Consequently, it’s important to take a look at the latest action surrounding Titan International Inc (NYSE:TWI).

What does the smart money think about Titan International Inc (NYSE:TWI)?

Heading into Q2, a total of 12 of the hedge funds we track were long in this stock, a change of -37% from the previous quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists a select group of noteworthy hedge fund managers who were boosting their stakes substantially.

Titan International Inc (NYSE:TWI)When looking at the hedgies we track, Corsair Capital Management, managed by Jay Petschek and Steven Major, holds the most valuable position in Titan International Inc (NYSE:TWI). Corsair Capital Management has a $30.6 million position in the stock, comprising 4.2% of its 13F portfolio. On Corsair Capital Management’s heels is Whitebox Advisors, managed by Andy Redleaf, which held a $5.2 million position; 0.2% of its 13F portfolio is allocated to the company. Other hedge funds that hold long positions include Joseph A. Jolson’s Harvest Capital Strategies, Matthew Lindenbaum’s Basswood Capital and Ken Griffin’s Citadel Investment Group.

Seeing as Titan International Inc (NYSE:TWI) has witnessed declining sentiment from hedge fund managers, it’s safe to say that there was a specific group of fund managers that slashed their positions entirely last quarter. Intriguingly, Jim Simons’s Renaissance Technologies cut the biggest stake of all the hedgies we watch, valued at about $8.5 million in stock., and D. E. Shaw of D E Shaw was right behind this move, as the fund dropped about $5.4 million worth. These transactions are important to note, as total hedge fund interest was cut by 7 funds last quarter.

How are insiders trading Titan International Inc (NYSE:TWI)?

Insider purchases made by high-level executives is at its handiest when the company in focus has seen transactions within the past six months. Over the last half-year time period, Titan International Inc (NYSE:TWI) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).

Let’s also review hedge fund and insider activity in other stocks similar to Titan International Inc (NYSE:TWI). These stocks are Myers Industries, Inc. (NYSE:MYE), Berry Plastics Group Inc (NYSE:BERY), Cooper Tire & Rubber Company (NYSE:CTB), Rogers Corporation (NYSE:ROG), and Tredegar Corporation (NYSE:TG). All of these stocks are in the rubber & plastics industry and their market caps match TWI’s market cap.

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