Hedge funds and other investment firms that we track manage billions of dollars of their wealthy clients’ money, and needless to say, they are painstakingly thorough when analyzing where to invest this money, as their own wealth depends on it. Regardless of the various methods used by elite investors like David Tepper and Dan Loeb, the resources they expend are second-to-none. This is especially valuable when it comes to small-cap stocks, which is where they generate their strongest outperformance, as their resources give them a huge edge when it comes to studying these stocks compared to the average investor, which is why we intently follow their activity in the small-cap space.
Hedge fund interest in Rocky Brands, Inc. (NASDAQ:RCKY) shares was flat at the end of last quarter. This is usually a negative indicator. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity, but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as Triangle Petroleum Corporation (NYSEMKT:TPLM), Riverview Bancorp, Inc. (NASDAQ:RVSB), and A. H. Belo Corporation (NYSE:AHC) to gather more data points.
In the eyes of most market participants, hedge funds are viewed as unimportant, old investment vehicles of years past. While there are more than 8000 funds in operation at present, We hone in on the masters of this club, about 700 funds. It is estimated that this group of investors have their hands on most of the smart money’s total asset base, and by tailing their top picks, Insider Monkey has come up with several investment strategies that have historically beaten the market. Insider Monkey’s small-cap hedge fund strategy outperformed the S&P 500 index by 12 percentage points per year for a decade in their back tests.
Now, let’s check out the latest action encompassing Rocky Brands, Inc. (NASDAQ:RCKY).
What does the smart money think about Rocky Brands, Inc. (NASDAQ:RCKY)?
At the Q3’s end, a total of 4 of the hedge funds tracked by Insider Monkey were long this stock, a change of 0% from the previous quarter. With hedgies’ capital changing hands, there exists a few noteworthy hedge fund managers who were boosting their holdings meaningfully (or already accumulated large positions).
When looking at the institutional investors followed by Insider Monkey, Renaissance Technologies holds the biggest position in Rocky Brands, Inc. (NASDAQ:RCKY). Renaissance Technologies has a $3 million position in the stock, comprising less than 0.1%% of its 13F portfolio. Sitting at the No. 2 spot is Whitebox Advisors, led by Andy Redleaf, holding a $1.9 million position; 0.1% of its 13F portfolio is allocated to the company. Remaining professional money managers that hold long positions contain Peter Algert and Kevin Coldiron’s Algert Coldiron Investors, Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital and .