Sealed Air Corp (NYSE:SEE) investors should be aware of an increase in hedge fund interest in recent months.
In today’s marketplace, there are plenty of gauges market participants can use to analyze stocks. Two of the most under-the-radar are hedge fund and insider trading interest. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the best money managers can beat the market by a solid margin (see just how much).
Just as important, positive insider trading activity is another way to parse down the stock market universe. There are a number of stimuli for an insider to get rid of shares of his or her company, but just one, very obvious reason why they would behave bullishly. Various empirical studies have demonstrated the useful potential of this method if “monkeys” understand what to do (learn more here).
With these “truths” under our belt, let’s take a glance at the recent action surrounding Sealed Air Corp (NYSE:SEE).
How are hedge funds trading Sealed Air Corp (NYSE:SEE)?
In preparation for this quarter, a total of 31 of the hedge funds we track were long in this stock, a change of 11% from the first quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists a select group of notable hedge fund managers who were boosting their holdings significantly.
According to our comprehensive database, Glenn J. Krevlin’s Glenhill Advisors had the most valuable position in Sealed Air Corp (NYSE:SEE), worth close to $43.4 million, accounting for 5.8% of its total 13F portfolio. The second largest stake is held by International Value Advisers, managed by Charles de Vaulx, which held a $34.2 million position; 0.8% of its 13F portfolio is allocated to the stock. Some other hedge funds that are bullish include David Tepper’s Appaloosa Management LP, Jim Simons’s Renaissance Technologies and D. E. Shaw’s D E Shaw.
Now, key money managers have been driving this bullishness. Renaissance Technologies, managed by Jim Simons, assembled the most valuable position in Sealed Air Corp (NYSE:SEE). Renaissance Technologies had 25.5 million invested in the company at the end of the quarter. Eliav Assouline and Marc Andersen’s Axial Capital also made a $23.3 million investment in the stock during the quarter. The other funds with brand new SEE positions are Donald Chiboucis’s Columbus Circle Investors, Joe DiMenna’s ZWEIG DIMENNA PARTNERS, and Robert Pohly’s Samlyn Capital.
What do corporate executives and insiders think about Sealed Air Corp (NYSE:SEE)?
Insider trading activity, especially when it’s bullish, is best served when the company we’re looking at has seen transactions within the past 180 days. Over the latest half-year time frame, Sealed Air Corp (NYSE:SEE) has experienced 1 unique insiders purchasing, and 6 insider sales (see the details of insider trades here).
Let’s also review hedge fund and insider activity in other stocks similar to Sealed Air Corp (NYSE:SEE). These stocks are AptarGroup, Inc. (NYSE:ATR), Bemis Company, Inc. (NYSE:BMS), Owens-Illinois Inc (NYSE:OI), Packaging Corp Of America (NYSE:PKG), and Tupperware Brands Corporation (NYSE:TUP). This group of stocks belong to the packaging & containers industry and their market caps are closest to SEE’s market cap.