At the moment, there are a multitude of metrics market participants can use to watch Mr. Market. A couple of the most innovative are hedge fund and insider trading sentiment. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the top hedge fund managers can beat their index-focused peers by a healthy amount (see just how much).
Just as crucial, positive insider trading sentiment is a second way to analyze the marketplace. Obviously, there are lots of reasons for a bullish insider to drop shares of his or her company, but only one, very clear reason why they would buy. Various academic studies have demonstrated the impressive potential of this tactic if you understand what to do (learn more here).
What’s more, let’s examine the newest info about Fifth & Pacific Companies Inc (NYSE:FNP).
What does the smart money think about Fifth & Pacific Companies Inc (NYSE:FNP)?
Heading into Q3, a total of 31 of the hedge funds we track were long in this stock, a change of 11% from one quarter earlier. With the smart money’s positions undergoing their usual ebb and flow, there exists a few key hedge fund managers who were increasing their stakes meaningfully.
When using filings from the hedgies we track, Alexander Mitchell’s Scopus Asset Management had the most valuable position in Fifth & Pacific Companies Inc (NYSE:FNP), worth close to $113.2 million, accounting for 3.1% of its total 13F portfolio. The second largest stake is held by Fisher Asset Management, managed by Ken Fisher, which held a $100.1 million position; 0.3% of its 13F portfolio is allocated to the company. Remaining peers that are bullish include Barry Rosenstein’s JANA Partners, Robert Pohly’s Samlyn Capital and Keith Meister’s Corvex Capital.
As aggregate interest spiked, certain money managers were breaking ground themselves. Scopus Asset Management, managed by Alexander Mitchell, created the most valuable position in Fifth & Pacific Companies Inc (NYSE:FNP). Scopus Asset Management had 113.2 million invested in the company at the end of the quarter. Ken Fisher’s Fisher Asset Management also initiated a $100.1 million position during the quarter. The following funds were also among the new FNP investors: Barry Rosenstein’s JANA Partners, Robert Pohly’s Samlyn Capital, and Keith Meister’s Corvex Capital.
How have insiders been trading Fifth & Pacific Companies Inc (NYSE:FNP)?
Bullish insider trading is particularly usable when the company we’re looking at has experienced transactions within the past 180 days. Over the last six-month time period, Fifth & Pacific Companies Inc (NYSE:FNP) has experienced zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
We’ll also take a look at the relationship between both of these indicators in other stocks similar to Fifth & Pacific Companies Inc (NYSE:FNP). These stocks are Gildan Activewear Inc (USA) (NYSE:GIL), Hanesbrands Inc. (NYSE:HBI), Carter’s, Inc. (NYSE:CRI), UniFirst Corp (NYSE:UNF), and Columbia Sportswear Company (NASDAQ:COLM). This group of stocks are the members of the textile – apparel clothing industry and their market caps resemble FNP’s market cap.
