What does Smart Money think about Container Store Group Inc (TCS)?
At the end of the first quarter, a total of seven of the hedge funds tracked by Insider Monkey were long in this stock, a decline of 22% from the fourth quarter’s end. With the smart money’s capital changing hands, there exists a few key hedge fund managers who were boosting their stakes substantially.
Sanford J. Colen’s Apex Capital was the largest shareholder of Container Store Group Inc (NYSE:TCS) in our database at the end of the first quarter. The investment manager owned 2.14 million shares of the retailer with a market value of $40.74 million and it accounted for 2.92% of its overall equity portfolio. Chuck Royce’s Royce & Associates came in at number two on the investors’ list with a holding valued at $19.23 million and consisting of 1.00 million shares. Jim Tarantino and Chris Galvin’s Westerly Capital Management and Dmitry Balyasny’s Balyasny Asset Management were among the other primary investors of the company. Alexander Mitchell’s Scopus Asset Management initiated a new position in the company of 336,937 shares worth $6.42 million during the first quarter.
With stronger-than-expected quarterly results and slightly positive hedge fund sentiment, we recommend a buy for the shares of Container Group Inc (NYSE:TCS) on its somewhat surprising dip today.