PulteGroup, Inc. (NYSE:PHM) was in 29 hedge funds’ portfolio at the end of the first quarter of 2013. PHM investors should pay attention to a decrease in activity from the world’s largest hedge funds lately. There were 35 hedge funds in our database with PHM holdings at the end of the previous quarter.
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With all of this in mind, we’re going to take a glance at the recent action surrounding PulteGroup, Inc. (NYSE:PHM).
What does the smart money think about PulteGroup, Inc. (NYSE:PHM)?
At Q1’s end, a total of 29 of the hedge funds we track were bullish in this stock, a change of -17% from the first quarter. With hedge funds’ sentiment swirling, there exists a few notable hedge fund managers who were increasing their holdings considerably.
According to our comprehensive database, Odey Asset Management Group, managed by Crispin Odey, holds the largest position in PulteGroup, Inc. (NYSE:PHM). Odey Asset Management Group has a $150.4 million position in the stock, comprising 5.2% of its 13F portfolio. Sitting at the No. 2 spot is Donald Chiboucis of Columbus Circle Investors, with a $54.2 million position; the fund has 0.4% of its 13F portfolio invested in the stock. Other hedge funds that are bullish include Christopher Medlock James’s Partner Fund Management, Cliff Asness’s AQR Capital Management and Douglas Dillard Jr. and Raj D. Venkatesan’s Standard Pacific Capital.
Seeing as PulteGroup, Inc. (NYSE:PHM) has experienced falling interest from the smart money, it’s safe to say that there were a few hedge funds who were dropping their full holdings last quarter. Interestingly, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital dumped the largest investment of the “upper crust” of funds we watch, comprising close to $21.1 million in stock.. Andrew Sandler’s fund, Sandler Capital Management, also dumped its stock, about $12.5 million worth. These moves are important to note, as aggregate hedge fund interest was cut by 6 funds last quarter.
How have insiders been trading PulteGroup, Inc. (NYSE:PHM)?
Insider buying is at its handiest when the company in focus has experienced transactions within the past 180 days. Over the latest 180-day time period, PulteGroup, Inc. (NYSE:PHM) has experienced zero unique insiders buying, and 9 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 PulteGroup, Inc. (NYSE:PHM). These stocks are The Ryland Group, Inc. (NYSE:RYL), NVR, Inc. (NYSE:NVR), Toll Brothers Inc (NYSE:TOL), Lennar Corporation (NYSE:LEN), and D.R. Horton, Inc. (NYSE:DHI). This group of stocks belong to the residential construction industry and their market caps are similar to PHM’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| The Ryland Group, Inc. (NYSE:RYL) | 16 | 0 | 0 |
| NVR, Inc. (NYSE:NVR) | 20 | 1 | 5 |
| Toll Brothers Inc (NYSE:TOL) | 26 | 0 | 6 |
| Lennar Corporation (NYSE:LEN) | 48 | 0 | 0 |
| D.R. Horton, Inc. (NYSE:DHI) | 29 | 0 | 3 |
With the returns shown by Insider Monkey’s studies, retail investors must always monitor hedge fund and insider trading activity, and PulteGroup, Inc. (NYSE:PHM) is an important part of this process.
