Is Steel Partners Holdings LP (SPLP) Going to Burn These Hedge Funds?

Page 1 of 2

The 700+ hedge funds and money managers tracked by Insider Monkey have already compiled and submitted their 13F filings for the third quarter, which unveil their equity positions as of September 30. We went through these filings and identified the changes in hedge fund positions. Our extensive review of these public filings is finally over, so this article is set to reveal the smart money sentiment towards Steel Partners Holdings LP (NYSE:SPLP).

Steel Partners Holdings LP (NYSE:SPLP) has seen an increase in hedge fund sentiment during the third quarter, amid a 6% decline of the stock. 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 Timkensteel Corp (NYSE:TMST), WL Ross Holding Corp (NASDAQ:WLRHU), and Star Bulk Carriers Corp. (NASDAQ:SBLK) to gather more data points.

Follow Steel Partners Holdings L.p. (NYSE:SPLP)

In the financial world there are a large number of signals market participants put to use to grade stocks. A pair of the most innovative signals are hedge fund and insider trading moves. Our researchers have shown that, historically, those who follow the top picks of the top fund managers can outclass the market by a very impressive amount (see the details here).

Keeping this in mind, let’s take a glance at the new action surrounding Steel Partners Holdings LP (NYSE:SPLP).

Hedge fund activity in Steel Partners Holdings LP (NYSE:SPLP)

At the end of the third quarter, a total of 7 of the hedge funds tracked by Insider Monkey were long this stock, a change of 40% from the second quarter. Among them, unsurprisingly, Steel Partners, managed by Warren Lichtenstein, holds the biggest position in Steel Partners Holdings LP (NYSE:SPLP), which was valued at $58.2 million, comprising 9.4% of its 13F portfolio. On Steel Partners’s heels is William C. Martin’s Raging Capital Management, with a $7.1 million position; the fund has 0.9% of its 13F portfolio invested in the stock. Some other professional money managers that hold long positions contain Nathaniel August’s Mangrove Partners, J. Carlo Cannell’s Cannell Capital and Mario Gabelli’s GAMCO Investors.

Page 1 of 2