Hedge Funds Are Selling Taylor Capital Group Inc (TAYC)

Taylor Capital Group Inc (NASDAQ:TAYC) was in 6 hedge funds’ portfolio at the end of March. TAYC shareholders have witnessed a decrease in enthusiasm from smart money lately. There were 6 hedge funds in our database with TAYC positions at the end of the previous quarter.

At the moment, there are dozens of metrics shareholders can use to track their holdings. A pair of the most useful are hedge fund and insider trading sentiment. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the best hedge fund managers can beat the S&P 500 by a healthy margin (see just how much).

Equally as beneficial, positive insider trading sentiment is a second way to parse down the marketplace. Just as you’d expect, there are a number of reasons for an upper level exec to sell shares of his or her company, but just one, very obvious reason why they would behave bullishly. Many empirical studies have demonstrated the impressive potential of this method if shareholders know where to look (learn more here).

Now, we’re going to take a peek at the key action encompassing Taylor Capital Group Inc (NASDAQ:TAYC).

How have hedgies been trading Taylor Capital Group Inc (NASDAQ:TAYC)?

At the end of the first quarter, a total of 6 of the hedge funds we track held long positions in this stock, a change of 0% from the first quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists an “upper tier” of notable hedge fund managers who were increasing their holdings substantially.

Of the funds we track, Basswood Capital, managed by Matthew Lindenbaum, holds the biggest position in Taylor Capital Group Inc (NASDAQ:TAYC). Basswood Capital has a $23.2 million position in the stock, comprising 1.8% of its 13F portfolio. The second largest stake is held by Second Curve Capital, managed by Tom Brown, which held a $15.3 million position; 3.9% of its 13F portfolio is allocated to the stock. Some other hedgies that are bullish include Jim Simons’s Renaissance Technologies, Ken Griffin’s Citadel Investment Group and Israel Englander’s Millennium Management.

Judging by the fact that Taylor Capital Group Inc (NASDAQ:TAYC) has faced a declination in interest from hedge fund managers, it’s safe to say that there is a sect of funds that slashed their positions entirely last quarter. Intriguingly, Charles Davidson’s Wexford Capital said goodbye to the biggest stake of all the hedgies we watch, worth an estimated $1.8 million in stock.. John Overdeck and David Siegel’s fund, Two Sigma Advisors, also dropped its stock, about $0.2 million worth. These bearish behaviors are important to note, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).

How have insiders been trading Taylor Capital Group Inc (NASDAQ:TAYC)?

Insider purchases made by high-level executives is at its handiest when the company in question has experienced transactions within the past six months. Over the latest 180-day time frame, Taylor Capital Group Inc (NASDAQ:TAYC) has seen 1 unique insiders purchasing, and zero insider sales (see the details of insider trades here).

Let’s go over hedge fund and insider activity in other stocks similar to Taylor Capital Group Inc (NASDAQ:TAYC). These stocks are First Busey Corporation (NASDAQ:BUSE), Lakeland Financial Corporation (NASDAQ:LKFN), First Merchants Corporation (NASDAQ:FRME), and Wilshire Bancorp Inc (NASDAQ:WIBC). This group of stocks are the members of the regional – midwest banks industry and their market caps resemble TAYC’s market cap.

With the results demonstrated by Insider Monkey’s tactics, everyday investors should always watch hedge fund and insider trading activity, and Taylor Capital Group Inc (NASDAQ:TAYC) applies perfectly to this mantra.

Click here to learn why you should track hedge funds