How have hedgies been trading Five Below Inc (NASDAQ:FIVE)?
At the end of the first quarter of 2015, a total of 20 of the hedge funds tracked by Insider Monkey held long positions in this stock, a substantial change of 82% from the previous quarter. Hedge funds tracked by Insider Monkey held a total of $191.37 million in Five Below Inc’s shares by the end of the first quarter, down from $210.51 million in the previous quarter. This is a 9.09% decrease in value of holdings but considering that the stock price declined 12.88% from January 2, 2015 through March 31, 2015, there was a net addition in the size of holdings among the funds we track, in terms of shares, which shows some bullishness, even in the face of the declines.
Of the funds tracked by Insider Monkey, Ken Griffin’s Citadel Investment Group had the biggest position in Five Below Inc (NASDAQ:FIVE), worth close to $36.4 million. Sitting on the number 2 spot is Crestwood Capital Management, managed by Michael R. Weisberg, which held a $33.3 million position; 4.5% of its 13F portfolio was allocated to the company. Some other peers that held long positions include Alexander Mitchell’s Scopus Asset Management , and Aaron Cowen’s Suvretta Capital Management.
With a general bullishness amongst the heavyweights, some big names were leading the bulls’ herd. Tyvor Capital, managed by John Tompkins, initiated the largest position in Five Below Inc (NASDAQ:FIVE). Tyvor Capital had $20.9 million invested in the company at the end of the first quarter. Alexander Mitchell’s Scopus Asset Management, mentioned above, also initiated a $20.4 million position during the quarter. The other funds with brand new Five Below positions are Louis Bacon’s Moore Global Investments, and Glenn Russell Dubin’s Highbridge Capital Management.
With investment bank RBC Capital Markets’ approval being mirrored by more hedge funds and a top company insider, showing Five Below Inc (NASDAQ:FIVE) some love seems more than sensible at the moment.