At the moment, there are many gauges market participants can use to monitor the equity markets. A pair of the most underrated are hedge fund and insider trading interest. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the best fund managers can outperform the market by a solid amount (see just how much).
Equally as crucial, positive insider trading activity is a second way to analyze the financial markets. Obviously, there are a variety of motivations for a corporate insider to get rid of shares of his or her company, but just one, very clear reason why they would buy. Several empirical studies have demonstrated the useful potential of this strategy if investors understand what to do (learn more here).
Thus, we’re going to study the newest info about SL Green Realty Corp (NYSE:SLG).
What have hedge funds been doing with SL Green Realty Corp (NYSE:SLG)?
Heading into Q3, a total of 15 of the hedge funds we track were bullish in this stock, a change of 50% from the first quarter. With hedgies’ sentiment swirling, there exists a select group of key hedge fund managers who were increasing their stakes meaningfully.
According to our 13F database, Ken Heebner’s Capital Growth Management had the largest position in SL Green Realty Corp (NYSE:SLG), worth close to $69.7 million, accounting for 1.8% of its total 13F portfolio. Coming in second is Balyasny Asset Management, managed by Dmitry Balyasny, which held a $10.9 million position; the fund has 0.2% of its 13F portfolio invested in the stock. Remaining hedge funds that hold long positions include Clint Carlson’s Carlson Capital, D. E. Shaw’s D E Shaw and Richard Driehaus’s Driehaus Capital.
Consequently, specific money managers have jumped into SL Green Realty Corp (NYSE:SLG) headfirst. Capital Growth Management, managed by Ken Heebner, established the most valuable position in SL Green Realty Corp (NYSE:SLG). Capital Growth Management had 69.7 million invested in the company at the end of the quarter. Dmitry Balyasny’s Balyasny Asset Management also initiated a $10.9 million position during the quarter. The other funds with brand new SLG positions are Clint Carlson’s Carlson Capital, D. E. Shaw’s D E Shaw, and Richard Driehaus’s Driehaus Capital.
How are insiders trading SL Green Realty Corp (NYSE:SLG)?
Bullish insider trading is best served when the company in focus has seen transactions within the past six months. Over the last 180-day time frame, SL Green Realty Corp (NYSE:SLG) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).
We’ll go over the relationship between both of these indicators in other stocks similar to SL Green Realty Corp (NYSE:SLG). These stocks are DDR Corp (NYSE:DDR), Kimco Realty Corp (NYSE:KIM), Macerich Co (NYSE:MAC), Federal Realty Investment Trust (NYSE:FRT), and Realty Income Corp (NYSE:O). All of these stocks are in the reit – retail industry and their market caps are closest to SLG’s market cap.