Is CBL & Associates Properties, Inc. (NYSE:CBL) a good investment?
At the moment, there are many methods investors can use to watch their holdings. A duo of the most underrated are hedge fund and insider trading movement. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the top money managers can beat the market by a solid margin (see just how much).
Just as key, positive insider trading activity is another way to analyze the investments you’re interested in. As the old adage goes: there are lots of motivations for a corporate insider to drop shares of his or her company, but only one, very obvious reason why they would buy. Several academic studies have demonstrated the useful potential of this tactic if piggybackers know where to look (learn more here).
Furthermore, it’s important to study the latest info for CBL & Associates Properties, Inc. (NYSE:CBL).
How are hedge funds trading CBL & Associates Properties, Inc. (NYSE:CBL)?
In preparation for the third quarter, a total of 12 of the hedge funds we track were long in this stock, a change of 9% from the first quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists an “upper tier” of key hedge fund managers who were increasing their holdings considerably.
When using filings from the hedgies we track, David Dreman’s Dreman Value Management had the most valuable position in CBL & Associates Properties, Inc. (NYSE:CBL), worth close to $26.7 million, accounting for 0.8% of its total 13F portfolio. The second largest stake is held by Renaissance Technologies, managed by Jim Simons, which held a $22.3 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Other peers that hold long positions include D. E. Shaw’s D E Shaw, Israel Englander’s Millennium Management and Ken Griffin’s Citadel Investment Group.
With a general bullishness amongst the titans, specific money managers were leading the bulls’ herd. Dreman Value Management, managed by David Dreman, initiated the largest position in CBL & Associates Properties, Inc. (NYSE:CBL). Dreman Value Management had 26.7 million invested in the company at the end of the quarter. Jim Simons’s Renaissance Technologies also made a $22.3 million investment in the stock during the quarter. The following funds were also among the new CBL investors: D. E. Shaw’s D E Shaw, Israel Englander’s Millennium Management, and Ken Griffin’s Citadel Investment Group.
Insider trading activity in CBL & Associates Properties, Inc. (NYSE:CBL)
Legal insider trading, particularly when it’s bullish, is at its handiest when the primary stock in question has seen transactions within the past half-year. Over the latest six-month time frame, CBL & Associates Properties, Inc. (NYSE:CBL) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).
We’ll also review the relationship between both of these indicators in other stocks similar to CBL & Associates Properties, Inc. (NYSE:CBL). These stocks are Taubman Centers, Inc. (NYSE:TCO), Regency Centers Corp (NYSE:REG), Tanger Factory Outlet Centers Inc. (NYSE:SKT), Hospitality Properties Trust (NYSE:HPT), and Weingarten Realty Investors (NYSE:WRI). This group of stocks belong to the reit – retail industry and their market caps are similar to CBL’s market cap.
|Company Name||# of Hedge Funds||# of Insiders Buying||# of Insiders Selling|
|Taubman Centers, Inc. (NYSE:TCO)||19||0||0|
|Regency Centers Corp (NYSE:REG)||11||0||0|
|Tanger Factory Outlet Centers Inc. (NYSE:SKT)||11||0||0|
|Hospitality Properties Trust (NYSE:HPT)||16||0||0|
|Weingarten Realty Investors (NYSE:WRI)||11||0||0|
Using the results shown by our tactics, regular investors should always track hedge fund and insider trading activity, and CBL & Associates Properties, Inc. (NYSE:CBL) applies perfectly to this mantra.