Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

WD-40 Company (WDFC) Misses Q3 Bottom Line Estimates, Blames FX Headwinds

How are hedge funds trading WD-40 Company (NASDAQ:WDFC)?

According to hedge fund intelligence website Insider Monkey, Renaissance Technologies, managed by Jim Simons, holds the most valuable position in WD-40 Company (NASDAQ:WDFC). Renaissance Technologies has a $46.8 million position of 528,700 shares of the firm, comprising 0.1% of its 13F portfolio. Sitting in the number two spot is Value Holdings LP, managed by Tim Curro, which held a $2.8 million position of 31,393 shares of the company; 1.8% of its 13F portfolio is allocated to the company. Other members of the smart money that hold long positions contain Cliff Asness’ AQR Capital Management, Chuck Royce’s Royce & Associates, and John Overdeck and David Siegel’s Two Sigma Advisors.

Because fewer hedge funds among those we track had a long position in WD-40 Company (NASDAQ:WDFC) by the end of the first quarter, it’s easy to see that there is a sect of funds who were dropping their entire stakes during the first quarter. It’s worth mentioning that Peter Muller‘s PDT Partners cut the largest investment of the “upper crust” of funds followed by Insider Monkey, 5,111 shares worth about $435,000. Gavin Saitowitz and Cisco J. del Valle of Springbok Capital were right behind this move, as the fund managers said goodbye to 500 shares worth about $43,000.

Since total value of holdings of hedge funds tracked by Insider Monkey actually increased by the end of the first quarter signifying that those long in the stock are more confident in it, along with the improving outlook of the company, it appears that WD-40 Company (NASDAQ:WDFC) is a good stock to buy at the moment.

Disclosure: None

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.