At Insider Monkey we follow around 730 of the best-performing investors and even though many of them lost money in the last several months, history teaches us that over the long-run they still manage to beat the market, which is why it can be profitable for us to imitate their activity. Of course, even the best money managers can sometimes get it wrong, but following some of their picks gives us a better chance to outperform the crowd than picking a random stock and this is where our research comes in.
Is Lennar Corporation (NYSE:LEN) an exceptional investment today? Investors who are in the know are getting more optimistic. The number of bullish hedge fund bets moved up by 5 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 Juniper Networks, Inc. (NYSE:JNPR), EQT Corporation (NYSE:EQT), and Mobileye NV (NYSE:MBLY) to gather more data points.
In the 21st century investor’s toolkit there are tons of tools shareholders put to use to value stocks. A duo of the most under-the-radar tools are hedge fund and insider trading interest. Our researchers have shown that, historically, those who follow the top picks of the top hedge fund managers can trounce the S&P 500 by a solid amount (see the details here).
With all of this in mind, we’re going to take a look at the latest action surrounding Lennar Corporation (NYSE:LEN).
How are hedge funds trading Lennar Corporation (NYSE:LEN)?
At the end of the third quarter, a total of 49 of the hedge funds tracked by Insider Monkey were long this stock, an 11% rise from the previous quarter. With the smart money’s capital changing hands, there exists a select group of key hedge fund managers who were boosting their stakes considerably (or already accumulated large positions).
Of the funds tracked by Insider Monkey, Capital Growth Management, managed by Ken Heebner, holds the largest position in Lennar Corporation (NYSE:LEN). Capital Growth Management has a $326.3 million position in the stock, comprising 10.5% of its 13F portfolio. Sitting in the 2 spot is Citadel Investment Group, led by Ken Griffin, holding a $100.5 million position; 0.1% of its 13F portfolio is allocated to the stock. Other members of the smart money that are bullish encompass Ross Margolies’ Stelliam Investment Management, Mario Gabelli’s GAMCO Investors, and Bruce Kovner’s Caxton Associates LP.