Clean Harbors Inc (NYSE:CLH) was in 15 hedge funds’ portfolio at the end of the fourth quarter of 2012. CLH has seen an increase in hedge fund interest of late. There were 14 hedge funds in our database with CLH holdings at the end of the previous quarter.
In the 21st century investor’s toolkit, there are many gauges market participants can use to monitor Mr. Market. Some of the best are hedge fund and insider trading sentiment. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the top money managers can outperform the market by a healthy amount (see just how much).
Equally as key, optimistic insider trading sentiment is another way to break down the stock market universe. Just as you’d expect, there are lots of motivations for an executive to cut shares of his or her company, but just one, very clear reason why they would buy. Several empirical studies have demonstrated the impressive potential of this method if shareholders know what to do (learn more here).
With these “truths” under our belt, we’re going to take a glance at the key action encompassing Clean Harbors Inc (NYSE:CLH).
How are hedge funds trading Clean Harbors Inc (NYSE:CLH)?
In preparation for this year, a total of 15 of the hedge funds we track held long positions in this stock, a change of 7% from the third quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists a few noteworthy hedge fund managers who were increasing their holdings significantly.
When looking at the hedgies we track, Ken Griffin’s Citadel Investment Group had the biggest position in Clean Harbors Inc (NYSE:CLH), worth close to $60 million, accounting for 0.1% of its total 13F portfolio. On Citadel Investment Group’s heels is Jim Simons of Renaissance Technologies, with a $26 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Some other hedge funds that are bullish include Alexander Mitchell’s Scopus Asset Management, Donald Chiboucis’s Columbus Circle Investors and Andrew Sandler’s Sandler Capital Management.
As industrywide interest jumped, some big names were leading the bulls’ herd. Scopus Asset Management, managed by Alexander Mitchell, created the most valuable position in Clean Harbors Inc (NYSE:CLH). Scopus Asset Management had 16 million invested in the company at the end of the quarter. Donald Chiboucis’s Columbus Circle Investors also initiated a $14 million position during the quarter. The following funds were also among the new CLH investors: Andrew Sandler’s Sandler Capital Management, Richard S. Meisenberg’s ACK Asset Management, and James Dinan’s York Capital Management.
What have insiders been doing with Clean Harbors Inc (NYSE:CLH)?
Insider trading activity, especially when it’s bullish, is particularly usable when the company we’re looking at has seen transactions within the past half-year. Over the last half-year time frame, Clean Harbors Inc (NYSE:CLH) has seen zero unique insiders buying, and 6 insider sales (see the details of insider trades here).
With the results shown by the aforementioned research, everyday investors should always monitor hedge fund and insider trading activity, and Clean Harbors Inc (NYSE:CLH) shareholders fit into this picture quite nicely.
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