Is Crown Holdings, Inc. (NYSE:CCK) a buy?
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Thus, let’s study the latest info for Crown Holdings, Inc. (NYSE:CCK).
What does the smart money think about Crown Holdings, Inc. (NYSE:CCK)?
At the end of the second quarter, a total of 29 of the hedge funds we track held long positions in this stock, a change of -3% from the previous quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists a few noteworthy hedge fund managers who were boosting their stakes significantly.
When using filings from the hedgies we track, David Cohen and Harold Levy’s Iridian Asset Management had the biggest position in Crown Holdings, Inc. (NYSE:CCK), worth close to $143.1 million, comprising 1.8% of its total 13F portfolio. On Iridian Asset Management’s heels is Lou Simpson of SQ Advisors, with a $107.1 million position; the fund has 6.3% of its 13F portfolio invested in the stock. Other peers that hold long positions include Jeffrey Tannenbaum’s Fir Tree, John Osterweis’s Osterweis Capital Management and Malcolm Fairbairn’s Ascend Capital.
Judging by the fact that Crown Holdings, Inc. (NYSE:CCK) has witnessed declining interest from the smart money’s best and brightest, we can see that there lies a certain “tier” of fund managers that decided to sell off their positions entirely in Q1. Intriguingly, Barry Lebovits and Joshua Kuntz’s Rivulet Capital dumped the biggest investment of all the hedgies we track, totaling an estimated $8.3 million in stock, and Jorge Paulo Lemann of 3G Capital was right behind this move, as the fund said goodbye to about $6.2 million worth. These bearish behaviors are intriguing to say the least, as total hedge fund interest fell by 1 funds in Q1.
How have insiders been trading Crown Holdings, Inc. (NYSE:CCK)?
Legal insider trading, particularly when it’s bullish, is best served when the company in question has seen transactions within the past six months. Over the latest 180-day time frame, Crown Holdings, Inc. (NYSE:CCK) has experienced 1 unique insiders purchasing, and 1 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 Crown Holdings, Inc. (NYSE:CCK). These stocks are Tupperware Brands Corporation (NYSE:TUP), Sealed Air Corp (NYSE:SEE), Ball Corporation (NYSE:BLL), Rock-Tenn Company (NYSE:RKT), and MeadWestvaco Corp. (NYSE:MWV). This group of stocks are in the packaging & containers industry and their market caps are similar to CCK’s market cap.
