Hedge funds and large money managers usually invest with a focus on the long-term horizon and, therefore, short-lived dips on the charts, usually don’t make them change their opinion towards a company. This time it may be different. During the third quarter we observed increased volatility and small-cap stocks underperformed the market. Hedge fund investor letters indicated that they are cutting their overall exposure, closing out some position and doubling down on others. Let’s take a look at the hedge fund sentiment towards Hill International Inc (NYSE:HIL) to find out whether it was one of their high conviction long-term ideas.
Hill International Inc (NYSE:HIL) hasn’t seen a lot of action during the third quarter. Overall, hedge fund sentiment was unchanged. The stock was in 10 hedge funds’ portfolios at the end of the third quarter of 2015. At the end of this article we will also compare HIL to other stocks, including Allied Motion Technologies, Inc. (NASDAQ:AMOT), Enphase Energy Inc (NASDAQ:ENPH), and Bill Barrett Corporation (NYSE:BBG) to get a better sense of its popularity.
If you’d ask most stock holders, hedge funds are perceived as worthless, old financial vehicles of years past. While there are more than 8000 funds in operation today, Our researchers look at the moguls of this group, around 700 funds. It is estimated that this group of investors has their hands on most of the smart money’s total asset base, and by tailing their top investments, Insider Monkey has unsheathed various investment strategies that have historically outperformed the S&P 500 index. Insider Monkey’s small-cap hedge fund strategy outpaced the S&P 500 index by 12 percentage points a year for a decade in their back tests.
Keeping this in mind, we’re going to take a glance at the recent action regarding Hill International Inc (NYSE:HIL).
How have hedgies been trading Hill International Inc (NYSE:HIL)?
Heading into Q4, a total of 10 of the hedge funds tracked by Insider Monkey were long this stock, flat over the quarter. With hedge funds’ capital changing hands, there exist a few key hedge fund managers who were upping their stakes considerably (or already accumulated large positions).
According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Peter Schliemann’s Rutabaga Capital Management has the most valuable position in Hill International Inc (NYSE:HIL), worth close to $9.7 million, amounting to 1.2% of its total 13F portfolio. Coming in second is Skylands Capital, managed by Charles Paquelet, which holds a $3 million position; 0.4% of its 13F portfolio is allocated to the stock. Remaining peers that hold long positions comprise Jim Simons’s Renaissance Technologies, Peter Algert and Kevin Coldiron’s Algert Coldiron Investors and Matthew Hulsizer’s PEAK6 Capital Management.