Is MRC Global Inc (NYSE:MRC) a good place to invest some of your money right now? We can gain invaluable insight to help us answer that question by studying the investment trends of top investors, who employ world-class Ivy League graduates, who are given immense resources and industry contacts to put their financial expertise to work. The top picks of these firms have historically outperformed the market when we account for known risk factors, making them very valuable investment ideas.
Is MRC Global Inc (NYSE:MRC) a bargain? Money managers are reducing their bets on the stock. The number of bullish hedge fund positions were trimmed by 3 recently. MRC was in 24 hedge funds’ portfolios at the end of the third quarter of 2015. There were 27 hedge funds in our database with MRC positions 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 AVG Technologies NV (NYSE:AVG), Acorda Therapeutics Inc (NASDAQ:ACOR), and CYS Investments Inc (NYSE:CYS) to gather more data points.
In today’s marketplace there are a large number of methods investors put to use to evaluate stocks. Some of the most underrated methods are hedge fund and insider trading indicators. We have shown that, historically, those who follow the best picks of the top hedge fund managers can outpace the broader indices by a significant margin (see the details here).
Keeping this in mind, let’s go over the latest action surrounding MRC Global Inc (NYSE:MRC).
How are hedge funds trading MRC Global Inc (NYSE:MRC)?
At Q3’s end, a total of 24 of the hedge funds tracked by Insider Monkey held long positions in this stock, a reduction of 11% from one quarter earlier. With hedge funds’ positions undergoing their usual ebb and flow, there exists a few notable hedge fund managers who were boosting their holdings meaningfully (or already accumulated large positions).
According to Insider Monkey’s hedge fund database, Select Equity Group, managed by Robert Joseph Caruso, holds the most valuable position in MRC Global Inc (NYSE:MRC). Select Equity Group has a $134.8 million position in the stock, comprising 1.3% of its 13F portfolio. Sitting at the No. 2 spot is Fairholme (FAIRX), led by Bruce Berkowitz, holding a $59.4 million stake; the fund has 1.7% of its 13F portfolio invested in the stock. Other peers with similar optimism contain D. E. Shaw’s D E Shaw, Joel Greenblatt’s Gotham Asset Management and David Costen Haley’s HBK Investments.