Is Haynes International, Inc. (NASDAQ:HAYN) a worthy investment now? The best stock pickers are turning less bullish. The number of long hedge fund bets fell by 3 in recent months.
Just as key, positive insider trading activity is another way to parse down the investments you’re interested in. There are a variety of incentives for a corporate insider to downsize shares of his or her company, but just one, very simple reason why they would buy. Plenty of empirical studies have demonstrated the useful potential of this method if shareholders know where to look (learn more here).
Now, let’s take a look at the recent action regarding Haynes International, Inc. (NASDAQ:HAYN).
What does the smart money think about Haynes International, Inc. (NASDAQ:HAYN)?
At the end of the first quarter, a total of 6 of the hedge funds we track were long in this stock, a change of -33% from one quarter earlier. With hedge funds’ sentiment swirling, there exists a select group of notable hedge fund managers who were increasing their holdings meaningfully.
When looking at the hedgies we track, Royce & Associates, managed by Chuck Royce, holds the most valuable position in Haynes International, Inc. (NASDAQ:HAYN). Royce & Associates has a $48.3 million position in the stock, comprising 0.1% of its 13F portfolio. Sitting at the No. 2 spot is AQR Capital Management, managed by Cliff Asness, which held a $6.5 million position; less than 0.1%% of its 13F portfolio is allocated to the company. Some other hedgies that hold long positions include Mario Gabelli’s GAMCO Investors, John Overdeck and David Siegel’s Two Sigma Advisors and Joel Greenblatt’s Gotham Asset Management.
Due to the fact that Haynes International, Inc. (NASDAQ:HAYN) has witnessed bearish sentiment from hedge fund managers, it’s safe to say that there exists a select few money managers that elected to cut their full holdings at the end of the first quarter. It’s worth mentioning that Jim Simons’s Renaissance Technologies cut the largest position of the “upper crust” of funds we monitor, worth close to $2 million in stock., and Israel Englander of Millennium Management was right behind this move, as the fund cut about $0.8 million worth. These bearish behaviors are important to note, as total hedge fund interest dropped by 3 funds at the end of the first quarter.
What do corporate executives and insiders think about Haynes International, Inc. (NASDAQ:HAYN)?
Insider purchases made by high-level executives is at its handiest when the company we’re looking at has experienced transactions within the past 180 days. Over the latest half-year time period, Haynes International, Inc. (NASDAQ:HAYN) has experienced zero unique insiders buying, and 1 insider sales (see the details of insider trades here).
Let’s also take a look at hedge fund and insider activity in other stocks similar to Haynes International, Inc. (NASDAQ:HAYN). These stocks are AZZ Incorporated (NYSE:AZZ), Park-Ohio Holdings Corp. (NASDAQ:PKOH), A M Castle and Co (NYSE:CAS), Matthews International Corp (NASDAQ:MATW), and Schnitzer Steel Industries, Inc. (NASDAQ:SCHN). This group of stocks are in the metal fabrication industry and their market caps are similar to HAYN’s market cap.
