A whopping number of 13F filings filed with U.S. Securities and Exchange Commission has been processed by Insider Monkey so that individual investors can look at the overall hedge fund sentiment towards the stocks included in their watchlists. These freshly-submitted public filings disclose money managers’ equity positions as of the end of the three-month period that ended September 30, so let’s proceed with the discussion of the hedge fund sentiment on Tailored Brands Inc (NYSE:TLRD).
Tailored Brands Inc (NYSE:TLRD) was in 25 hedge funds’ portfolios at the end of September. TLRD investors should be aware of an increase in hedge fund interest in recent months. There were 19 hedge funds in our database with TLRD 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 Raptor Pharmaceutical Corp. (NASDAQ:RPTP), Bankrate Inc (NYSE:RATE), and ANI Pharmaceuticals Inc (NASDAQ:ANIP) to gather more data points.
Follow Tailored Brands Inc (NYSE:TLRD)
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At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 18% gains over the past 12 months, more than doubling the 8% returns enjoyed by the S&P 500 ETFs.
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How have hedgies been trading Tailored Brands Inc (NYSE:TLRD)?
At Q3’s end, a total of 25 of the hedge funds tracked by Insider Monkey held long positions in this stock, a gain of 32% from one quarter earlier. The graph below displays the number of hedge funds with bullish position in TLRD over the last 5 quarters. So, let’s examine which hedge funds were among the top holders of the stock and which hedge funds were making big moves.
According to Insider Monkey’s hedge fund database, Ricky Sandler’s Eminence Capital has the most valuable position in Tailored Brands Inc (NYSE:TLRD), worth close to $96.5 million, amounting to 1.6% of its total 13F portfolio. Sitting at the No. 2 spot is Glenview Capital, led by Larry Robbins, holding a $37.7 million position. Some other members of the smart money with similar optimism consist of Peter S. Park’s Park West Asset Management, John W. Moon’s Moon Capital and Israel Englander’s Millennium Management. We should note that none of these hedge funds are among our list of the 100 best performing hedge funds which is based on the performance of their 13F long positions in non-microcap stocks.
As one would reasonably expect, key hedge funds were breaking ground themselves. Glenview Capital initiated the most outsized position in Tailored Brands Inc (NYSE:TLRD). Jerome L. Simon’s Lonestar Capital Management also initiated a $3.9 million position during the quarter. The other funds with brand new TLRD positions are Neil Chriss’ Hutchin Hill Capital, Peter Muller’s PDT Partners, and Robert Pohly’s Samlyn Capital.
Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Tailored Brands Inc (NYSE:TLRD) but similarly valued. We will take a look at Raptor Pharmaceutical Corp. (NASDAQ:RPTP), Bankrate Inc (NYSE:RATE), ANI Pharmaceuticals Inc (NASDAQ:ANIP), and Essendant Inc (NASDAQ:ESND). This group of stocks’ market values are similar to TLRD’s market value.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| RPTP | 17 | 125492 | 2 |
| RATE | 17 | 58556 | -1 |
| ANIP | 16 | 76155 | 2 |
| ESND | 11 | 39995 | 3 |
As you can see these stocks had an average of 15 hedge funds with bullish positions and the average amount invested in these stocks was $75 million. That figure was $253 million in TLRD’s case. Raptor Pharmaceutical Corp. (NASDAQ:RPTP) is the most popular stock in this table. On the other hand Essendant Inc (NASDAQ:ESND) is the least popular one with only 11 bullish hedge fund positions. Compared to these stocks Tailored Brands Inc (NYSE:TLRD) 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.
Disclosure: None
