Our extensive research has shown that imitating the smart money can generate significant returns for retail investors, which is why we track more than 700 prominent money managers and analyze their quarterly 13F filings. The stocks that are heavily bought by hedge funds historically outperformed the market, though there is no shortage of high profile gigantic failures like hedge funds’ recent losses in Valeant. Let’s take a closer look at what the funds we track think about WP Glimcher Inc (NYSE:WPG) in this article.
WP Glimcher Inc (NYSE:WPG) was in 16 hedge funds’ portfolios at the end of September. WP Glimcher Inc (NYSE:WPG) investors should pay attention to a decrease in enthusiasm from smart money lately. There were 19 hedge funds in our database with WP Glimcher Inc (NYSE:WPG) positions at the end of the previous quarter. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity, but it may still be less popular than similarly priced stocks. That’s why at the end of this article, we will examine companies such as National Health Investors Inc (NYSE:NHI), and Kosmos Energy Ltd (NYSE:KOS) to gather more data points.
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According to most traders, hedge funds are viewed as underperforming, outdated investment tools of years past. While there are over 8000 funds in operation at the moment, We choose to focus on the leaders of this club, around 700 funds. It is estimated that this group of investors orchestrates bulk of the hedge fund industry’s total asset base, and by watching their first-class investments, Insider Monkey has revealed many investment strategies that have historically beaten Mr. Market. Insider Monkey’s small-cap hedge fund strategy outstripped the S&P 500 index by 12 percentage points per annum for a decade in their back tests.
Keeping this in mind, we’re going to take a peek at the fresh action surrounding WP Glimcher Inc (NYSE:WPG).
How have hedgies been trading WP Glimcher Inc (NYSE:WPG)?
At the end of September, a total of 16 of the hedge funds tracked by Insider Monkey were bullish on this stock, a drop of 16% from the second quarter. With hedge funds’ capital changing hands, there exists a select group of noteworthy hedge fund managers who were increasing their stakes considerably (or already accumulated large positions).
When looking at the institutional investors followed by Insider Monkey, Gruss Asset Management, managed by Howard Guberman, holds the largest position in WP Glimcher Inc (NYSE:WPG). Gruss Asset Management has a $32.6 million position in the stock, comprising 1% of its 13F portfolio. The second largest stake is held by Forward Management, led by J. Alan Reid, Jr., holding an $18.6 million position; 1.5% of its 13F portfolio is allocated to the stock. Remaining hedge funds and institutional investors with similar optimism encompass Ken Griffin’s Citadel Investment Group, D E Shaw, and Israel Englander’s Millennium Management.
Seeing as WP Glimcher Inc (NYSE:WPG) has faced a declination in interest from the entirety of the hedge funds we track, logic holds that there was a specific group of hedgies that decided to sell off their full holdings by the end of the third quarter. At the top of the heap, Point72 Asset Management dropped the biggest position of the 700 funds monitored by Insider Monkey, worth about $5.8 million in stock. Michael Platt and William Reeves’ fund, BlueCrest Capital Mgmt., also dumped its stock, about $5.8 million worth of shares. These bearish behaviors are intriguing to say the least, as aggregate hedge fund interest was cut by 3 funds by the end of the third quarter.
Let’s also examine hedge fund activity in other stocks similar to WP Glimcher Inc (NYSE:WPG). We will take a look at National Health Investors Inc (NYSE:NHI), Kosmos Energy Ltd (NYSE:KOS), and Logitech International SA (USA) (NASDAQ:LOGI). This group of stocks’ market caps is closest to WP Glimcher Inc (NYSE:WPG)’s market cap.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| NHI | 12 | 71580 | 4 |
| KOS | 9 | 98311 | -8 |
| LOGI | 7 | 19990 | -4 |
As you can see, these stocks had an average of 9 hedge funds with bullish positions and the average amount invested in these stocks was $63 million. That figure was $99 million in WP Glimcher Inc (NYSE:WPG)’s case. National Health Investors Inc (NYSE:NHI) is the most popular stock in this table. On the other hand, Logitech International SA (USA) (NASDAQ:LOGI) is the least popular one with only 7 bullish hedge fund positions. Compared to these stocks, WP Glimcher Inc (NYSE:WPG) 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.
