At Insider Monkey we follow around 730 of the best-performing investors and even though many of them lost money in the last several months, the history teaches us that over the long-run they still manage to beat the market, which is why it can be profitable for us to imitate their activity. Of course, even the best money managers can sometimes get it wrong, but following some of their picks gives us a better chance to outperform the crowd than picking a random stock and this is where our research comes in.
Is Alico, Inc. (NASDAQ:ALCO) a buy here? Prominent investors are in a bullish mood. The number of bullish hedge fund positions went up by 1 recently. ALCO was in an 8 hedge funds’ portfolios at the end of the third quarter of 2015. There were 7 hedge funds in our database with ALCO holdings at the end of the previous quarter. 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 InterNAP Network Services (NASDAQ:INAP), Village Super Market, Inc. (NASDAQ:VLGEA), and Independent Bank Corporation(MI) (NASDAQ:IBCP) to gather more data points.
With all of this in mind, we’re going to analyze the fresh action encompassing Alico, Inc. (NASDAQ:ALCO).
Hedge fund activity in Alico, Inc. (NASDAQ:ALCO)
At Q3’s end, a total of 8 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 14% from the previous quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists a select group of key hedge fund managers who were increasing their holdings substantially (or already accumulated large positions).
When looking at the institutional investors followed by Insider Monkey, GMT Capital, managed by Thomas E. Claugus, holds the number one position in Alico, Inc. (NASDAQ:ALCO). GMT Capital has a $25.3 million position in the stock, comprising 0.6% of its 13F portfolio. Coming in second is Remy Trafelet of Trafelet Capital, with a $13 million position; the fund has 8.8% of its 13F portfolio invested in the stock. Some other peers that hold long positions encompass Daniel Beltzman and Gergory Smith’s Birch Run Capital, Martin Whitman’s Third Avenue Management and Jim Simons’s Renaissance Technologies.