Core Laboratories N.V. (NYSE:CLB) was in 12 hedge funds’ portfolio at the end of the fourth quarter of 2012. CLB has seen a decrease in activity from the world’s largest hedge funds of late. There were 17 hedge funds in our database with CLB positions at the end of the previous quarter.
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Now, it’s important to take a look at the recent action surrounding Core Laboratories N.V. (NYSE:CLB).
How have hedgies been trading Core Laboratories N.V. (NYSE:CLB)?
In preparation for this year, a total of 12 of the hedge funds we track were bullish in this stock, a change of -29% from the third quarter. With hedgies’ capital changing hands, there exists a few notable hedge fund managers who were increasing their holdings considerably.
According to our comprehensive database, Cantillon Capital Management, managed by William von Mueffling, holds the largest position in Core Laboratories N.V. (NYSE:CLB). Cantillon Capital Management has a $42 million position in the stock, comprising 1.6% of its 13F portfolio. Sitting at the No. 2 spot is Rob Citrone of Discovery Capital Management, with a $24.8 million position; the fund has 0.4% of its 13F portfolio invested in the stock. Some other peers that hold long positions include Jim Simons’s Renaissance Technologies, Ken Griffin’s Citadel Investment Group and Andrew Hall’s Astenbeck Capital Management.
Seeing as Core Laboratories N.V. (NYSE:CLB) has witnessed a declination in interest from the aggregate hedge fund industry, we can see that there exists a select few money managers that decided to sell off their full holdings in Q4. It’s worth mentioning that Robert B. Gillam’s McKinley Capital Management dropped the largest stake of all the hedgies we track, valued at about $29 million in stock.. Ben Levine, Andrew Manuel and Stefan Renold’s fund, LMR Partners, also said goodbye to its stock, about $6.6 million worth. These transactions are intriguing to say the least, as total hedge fund interest was cut by 5 funds in Q4.
What have insiders been doing with Core Laboratories N.V. (NYSE:CLB)?
Insider buying is particularly usable when the company in question has seen transactions within the past six months. Over the last 180-day time period, Core Laboratories N.V. (NYSE:CLB) has seen zero unique insiders purchasing, and 2 insider sales (see the details of insider trades here).
Let’s check out hedge fund and insider activity in other stocks similar to Core Laboratories N.V. (NYSE:CLB). These stocks are Superior Energy Services, Inc. (NYSE:SPN), Weatherford International Ltd (NYSE:WFT), Oil States International, Inc. (NYSE:OIS), MDU Resources Group Inc (NYSE:MDU), and Oceaneering International (NYSE:OII). This group of stocks are in the oil & gas equipment & services industry and their market caps resemble CLB’s market cap.
