Hedge Funds Glad They Pulled Out Of DSW Inc. (DSW)

What does the Smart Money think about DSW Inc.?

At the end of the second quarter, Israel Englander of Millennium Management was the largest shareholder of DSW Inc. (NYSE:DSW) in our database, owning 2.38 million shares with a market value of $79.58 million. Dmitry Balyasny’s Balyasny Asset Management came in at number two, with 2.38 million shares valued at $79.52 million. Royce & Associates and Citadel Investment Group were other primary shareholders, with 2.04 million shares and 1.26 million shares respectively.

Some hedge funds initiated new positions in DSW Inc. during the second quarter including Interval Partners and Tudor Investment Group. Interval Partners, led by Gregg Moskowitz, reported ownership of 426,985 shares, whereas Tudor Investment Group, led by Paul Tudor Jones, had 228,387 shares of the retailer in its portfolio. On the other hand, Ascend Capital, led by Malcolm Fairbairn, and Tyvor Capital, led by John Thompkins, sold out their entire stakes in DSW Inc. (NYSE:DSW). Robert Bishop’s Impala Asset Management trimmed its stake in the company by 54% during the second quarter, reporting ownership of 845,818 shares valued at $28.23 million as of the end of the second quarter.

Considering the negative hedge fund sentiment and missed second quarter financial results, we would not recommend investors buy shares of DSW Inc. at this time.

Disclosure: None