Insider Monkey has processed numerous 13F filings of hedge funds and famous investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds and investors’ positions as of the end of the third quarter. You can find write-ups about an individual hedge fund’s trades on numerous financial news websites. However, in this article we will take a look at their collective moves and analyze what the smart money thinks of Impax Laboratories Inc (NASDAQ:IPXL) based on that data.
Impax Laboratories Inc (NASDAQ:IPXL) has experienced a decrease in hedge fund interest lately. At the end of this article we will also compare IPXL to other stocks including CST Brands Inc (NYSE:CST), Dana Holding Corporation (NYSE:DAN), and Pebblebrook Hotel Trust (NYSE:PEB) to get a better sense of its popularity.
Follow Impax Laboratories Llc (NASDAQ:IPXL)
Follow Impax Laboratories Llc (NASDAQ:IPXL)
Today there are a lot of methods stock market investors can use to analyze their holdings. A couple of the most underrated methods are hedge fund and insider trading moves. Our researchers have shown that, historically, those who follow the best picks of the top money managers can outclass the S&P 500 by a solid amount (see the details here).
Now, we’re going to view the latest action encompassing Impax Laboratories Inc (NASDAQ:IPXL).
How have hedgies been trading Impax Laboratories Inc (NASDAQ:IPXL)?
At Q3’s end, a total of 26 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of -16% from the previous quarter. With hedgies’ capital changing hands, there exists a few notable hedge fund managers who were boosting their holdings considerably (or already accumulated large positions).
According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Hound Partners, managed by Jonathan Auerbach, holds the largest position in Impax Laboratories Inc (NASDAQ:IPXL). Hound Partners has a $250.4 million position in the stock, comprising 5.4% of its 13F portfolio. Coming in second is OrbiMed Advisors, led by Samuel Isaly, holding a $234.6 million position; 2.4% of its 13F portfolio is allocated to the company. Remaining professional money managers that are bullish contain Alan Fournier’s Pennant Capital Management, Anand Parekh’s Alyeska Investment Group and David Greenspan’s Slate Path Capital.
Seeing as Impax Laboratories Inc (NASDAQ:IPXL) has faced bearish sentiment from the smart money, it’s safe to say that there were a few funds who were dropping their positions entirely heading into Q4. It’s worth mentioning that Arthur B Cohen and Joseph Healey’s Healthcor Management LP cut the largest position of the “upper crust” of funds followed by Insider Monkey, valued at about $25.3 million in stock. Chase Coleman’s fund, Tiger Global Management LLC, also cut its stock, about $19.7 million worth. These transactions are interesting, as aggregate hedge fund interest dropped by 5 funds heading into Q4.
Let’s go over hedge fund activity in other stocks similar to Impax Laboratories Inc (NASDAQ:IPXL). We will take a look at CST Brands Inc (NYSE:CST), Dana Holding Corporation (NYSE:DAN), Pebblebrook Hotel Trust (NYSE:PEB), and Janus Capital Group Inc (NYSE:JNS). This group of stocks’ market values are closest to IPXL’s market value.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| CST | 25 | 639255 | -6 |
| DAN | 25 | 332291 | -1 |
| PEB | 5 | 13420 | -2 |
| JNS | 20 | 342201 | -1 |
As you can see these stocks had an average of 18.75 hedge funds with bullish positions and the average amount invested in these stocks was $332 million. That figure was $730 million in IPXL’s case. CST Brands Inc (NYSE:CST) is the most popular stock in this table. On the other hand Pebblebrook Hotel Trust (NYSE:PEB) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks Impax Laboratories Inc (NASDAQ:IPXL) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.
