A whopping number of 13F filings filed with U.S. Securities and Exchange Commission has been processed by Insider Monkey so that individual investors can look at the overall hedge fund sentiment towards the stocks included in their watchlists. These freshly-submitted public filings disclose money managers’ equity positions as of the end of the three-month period that ended September 30, so let’s proceed with the discussion of the hedge fund sentiment on Colliers International Group Inc (NASDAQ:CIGI).
During the third quarter, Colliers International Group saw a decline in confidence from smart money investors and 10 funds from our database held shares of the company at the end of September. However, 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 Plexus Corp. (NASDAQ:PLXS), Halozyme Therapeutics, Inc. (NASDAQ:HALO), and Aircastle Limited (NYSE:AYR) to gather more data points.
We follow over 700 hedge funds and other institutional investors and by analyzing their quarterly 13F filings, we identify stocks that they are collectively bullish on and develop investment strategies based on this data. One strategy that outperformed the market over the last year involves selecting the 100 best-performing funds and identifying the 30 mid-cap stocks that they are collectively most bullish on. Over the past year, this strategy generated returns of 18%, topping the 8% gain registered by S&P 500 ETFs. We launched this strategy 2.5 years ago and it returned more than 39% since then, vs. 22% gain registered by the S&P 500 ETFs.
Now, we’re going to take a peek at the latest action regarding Colliers International Group Inc (NASDAQ:CIGI).
What does the smart money think about Colliers International Group Inc (NASDAQ:CIGI)?
Heading into the fourth quarter of 2016, a total of 10 of the hedge funds tracked by Insider Monkey were bullish on this stock, which is lower than 12 funds at the end of June. The graph below displays the number of hedge funds with bullish position in CIGI over the last five quarters. So, let’s examine which hedge funds were among the top holders of the stock and which hedge funds were making big moves.
According to Insider Monkey’s hedge fund database, BloombergSen, led by Jonathan Bloomberg, holds the biggest position in Colliers International Group Inc (NASDAQ:CIGI). BloombergSen has a $72.6 million position in the stock, comprising 7.1% of its 13F portfolio. On BloombergSen’s heels is Renaissance Technologies, one of the largest hedge funds in the world, which holds a $29.9 million position; 0.1% of its 13F portfolio is allocated to the company. Other members of the smart money that hold long positions include Chuck Royce’s Royce & Associates, John Overdeck and David Siegel’s Two Sigma Advisors, and Cliff Asness’ AQR Capital Management. We should note that none of these hedge funds are among our list of the 100 best performing hedge funds which is based on the performance of their 13F long positions in non-microcap stocks.