Is Castle Brands Inc (ROX) A Good Stock To Buy?

At Insider Monkey we track the activity of some of the best-performing hedge funds like Appaloosa Management, Baupost, and Third Point because we determined that some of the stocks that they are collectively bullish on can help us generate returns above the broader indices. Out of thousands of stocks that hedge funds invest in, small-caps can provide the best returns over the long term due to the fact that these companies are less efficiently priced and are usually under the radars of mass-media, analysts and dumb money. This is why we follow the smart money moves in the small-cap space.

Is Castle Brands Inc (NYSEAMEX:ROX) a buy, sell, or hold? Money managers are becoming less confident. The number of bullish hedge fund positions stayed the same which is a slightly negative development in our experience. 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 ChinaCache Internatnl Hldgs Ltd (ADR) (NASDAQ:CCIH), TeleCommunication Systems, Inc. (NASDAQ:TSYS), and Tilly’s Inc (NYSE:TLYS) to gather more data points.

With all of this in mind, let’s check out the latest action surrounding Castle Brands Inc (NYSEAMEX:ROX).

What have hedge funds been doing with Castle Brands Inc (NYSEAMEX:ROX)?

When looking at the institutional investors followed by Insider Monkey, Coe Capital Management, managed by Mark Coe, holds the most valuable position in Castle Brands Inc (NYSEAMEX:ROX). Coe Capital Management has a $1 million position in the stock, comprising 0.4% of its 13F portfolio. The second largest stake is held by Murray Stahl of Horizon Asset Management, with a $0.2 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Some other members of the smart money that hold long positions consist of Paul Tudor Jones’s Tudor Investment Corp, Ken Griffin’s Citadel Investment Group.