Diebold Inc (DBD): Hedge Fund Ownership Surges 90% in 1 Year

The 700+ hedge funds and money managers tracked by Insider Monkey have already compiled and submitted their 13F filings for the third quarter, which unveil their equity positions as of September 30. We went through these filings, fixed typos and other more significant errors and identified the changes in hedge fund positions. Our extensive review of these public filings is finally over, so this article is set to reveal the smart money sentiment towards Diebold Inc (NYSE:DBD).

Diebold Inc (NYSE:DBD) has seen an increase in hedge fund sentiment in recent months. DBD was in 19 hedge funds’ portfolios at the end of the third quarter of 2016. There were 15 hedge funds in our database with DBD positions at the end of the previous quarter. At the end of this article we will also compare DBD to other stocks including Eagle Bancorp, Inc. (NASDAQ:EGBN), Steelcase Inc. (NYSE:SCS), and Gannett Co., Inc. (NYSE:GCI) to get a better sense of its popularity.

At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 18% gains over the past 12 months, more than doubling the 8% returns enjoyed by the S&P 500 ETFs.

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How are hedge funds trading Diebold Inc (NYSE:DBD)?

At the end of the third quarter, a total of 19 of the hedge funds tracked by Insider Monkey were long this stock, a 27% jump from one quarter earlier. Hedge fund ownership of the stock has nearly doubled over the past year, surging by 90%. With hedge funds’ sentiment swirling, there exists a select group of noteworthy hedge fund managers who were increasing their holdings considerably (or already accumulated large positions).

According to Insider Monkey’s hedge fund database, Mario Gabelli’s GAMCO Investors has the biggest position in Diebold Inc (NYSE:DBD), worth close to $92.5 million. The second largest stake is held by Chuck Royce of Royce & Associates, with a $48.9 million position. Remaining hedge funds and institutional investors that hold long positions include Mariko Gordon’s Daruma Asset Management, Dmitry Balyasny’s Balyasny Asset Management and Steve Cohen’s Point72 Asset Management.