Hedge Funds and other institutional investors have just completed filing their 13Fs with the Securities and Exchange Commission, revealing their equity portfolios as of the end of September. At Insider Monkey, we follow over 700 of the best-performing investors and by analyzing their 13F filings, we can determine the stocks that they are collectively bullish on. One of their picks is Cooper Tire & Rubber Company (NYSE:CTB), so let’s take a closer look at the sentiment that surrounds it in the current quarter.
Cooper Tire & Rubber Company (NYSE:CTB) investors should pay attention to a decrease in hedge fund interest lately. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity, but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as Primerica, Inc. (NYSE:PRI), Banco Macro SA (ADR) (NYSE:BMA), and Companhia Energetica Minas Gerais (ADR) (NYSE:CIG) to gather more data points.
In today’s marketplace there are plenty of signals shareholders employ to size up stocks. A pair of the most under-the-radar signals are hedge fund and insider trading sentiment. Our researchers have shown that, historically, those who follow the top picks of the best investment managers can outpace the broader indices by a significant margin (see the details here).
Keeping this in mind, let’s review the new action regarding Cooper Tire & Rubber Company (NYSE:CTB).
How have hedgies been trading Cooper Tire & Rubber Company (NYSE:CTB)?
At the end of the third quarter, a total of 23 of the hedge funds tracked by Insider Monkey were bullish on this stock, a decline of 12% from one quarter earlier. With the smart money’s sentiment swirling, there exists a select group of noteworthy hedge fund managers who were boosting their stakes considerably (or already accumulated large positions).
According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Anchor Bolt Capital, managed by Robert Polak, holds the number one position in Cooper Tire & Rubber Company (NYSE:CTB). The fund has a $26.1 million stake in the stock, comprising 0.9% of its 13F portfolio. The second most bullish fund manager is GAMCO Investors, managed by Mario Gabelli, which holds a $22.3 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Remaining peers that hold long positions encompass Cliff Asness’s AQR Capital Management, David Dreman’s Dreman Value Management and George McCabe’s Portolan Capital Management.