World-class money managers like Bill Ackman and Barry Rosenstein only invest their wealthy clients’ money after undertaking a rigorous examination of any potential stock. They are particularly successful in this regard when it comes to small-cap stocks, which their peerless research gives them a big information advantage on when it comes to judging their worth. It’s not surprising then that they generate their biggest returns from these stocks and invest more of their money in these stocks on average than other investors. It’s also not surprising then that we pay close attention to these picks ourselves and have built a market-beating investment strategy around them.
Vista Outdoor Inc (NYSE:VSTO) has seen a decrease in support from the world’s most elite money managers recently. 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 Sensient Technologies Corporation (NYSE:SXT), Ciena Corporation (NASDAQ:CIEN), and Dyax Corp. (NASDAQ:DYAX) to gather more data points.
With all of this in mind, we’re going to analyze the key action encompassing Vista Outdoor Inc (NYSE:VSTO).
What does the smart money think about Vista Outdoor Inc (NYSE:VSTO)?
At Q3’s end, a total of 20 of the hedge funds tracked by Insider Monkey were long this stock, a change of -9% from one quarter earlier. With the smart money’s positions undergoing their usual ebb and flow, there exists a few noteworthy hedge fund managers who were increasing their stakes substantially (or already accumulated large positions).
Of the funds tracked by Insider Monkey, David Cohen and Harold Levy’s Iridian Asset Management has the biggest position in Vista Outdoor Inc (NYSE:VSTO), worth close to $154.4 million, corresponding to 1.3% of its total 13F portfolio. On Iridian Asset Management’s heels is Jeffrey Gates of Gates Capital Management, with a $107.9 million position; the fund has 4.2% of its 13F portfolio invested in the stock. Some other peers with similar optimism encompass Anand Parekh’s Alyeska Investment Group, David Costen Haley’s HBK Investments and Christopher A. Winham’s Tide Point Capital.