Textainer Group Holdings Limited (NYSE:TGH) was in 8 hedge funds’ portfolio at the end of the first quarter of 2013. TGH investors should pay attention to a decrease in activity from the world’s largest hedge funds of late. There were 12 hedge funds in our database with TGH holdings at the end of the previous quarter.
Just as important, positive insider trading activity is a second way to parse down the financial markets. Obviously, there are many incentives for a corporate insider to sell shares of his or her company, but just one, very clear reason why they would initiate a purchase. Plenty of empirical studies have demonstrated the useful potential of this method if piggybackers understand where to look (learn more here).
Now, let’s take a look at the key action regarding Textainer Group Holdings Limited (NYSE:TGH).
How have hedgies been trading Textainer Group Holdings Limited (NYSE:TGH)?
At the end of the first quarter, a total of 8 of the hedge funds we track were bullish in this stock, a change of -33% from one quarter earlier. With hedgies’ sentiment swirling, there exists an “upper tier” of key hedge fund managers who were upping their stakes significantly.
According to our comprehensive database, Renaissance Technologies, managed by Jim Simons, holds the biggest position in Textainer Group Holdings Limited (NYSE:TGH). Renaissance Technologies has a $3.8 million position in the stock, comprising less than 0.1%% of its 13F portfolio. On Renaissance Technologies’s heels is Dreman Value Management, managed by David Dreman, which held a $3 million position; 0.1% of its 13F portfolio is allocated to the company. Other hedge funds with similar optimism include Israel Englander’s Millennium Management, Alec Litowitz and Ross Laser’s Magnetar Capital and Paul Tudor Jones’s Tudor Investment Corp.
Judging by the fact that Textainer Group Holdings Limited (NYSE:TGH) has faced falling interest from hedge fund managers, logic holds that there is a sect of fund managers that elected to cut their positions entirely in Q1. Intriguingly, Malcolm Fairbairn’s Ascend Capital sold off the largest position of the “upper crust” of funds we monitor, totaling close to $30.4 million in stock., and Anand Parekh of Alyeska Investment Group was right behind this move, as the fund cut about $3.2 million worth. These moves are interesting, as aggregate hedge fund interest dropped by 4 funds in Q1.
Insider trading activity in Textainer Group Holdings Limited (NYSE:TGH)
Bullish insider trading is best served when the company we’re looking at has experienced transactions within the past half-year. Over the last six-month time frame, Textainer Group Holdings Limited (NYSE:TGH) has experienced zero 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 Textainer Group Holdings Limited (NYSE:TGH). These stocks are Air Lease Corp (NYSE:AL), GATX Corporation (NYSE:GMT), Rent-A-Center Inc (NASDAQ:RCII), , and Aaron’s, Inc. (NYSE:AAN). This group of stocks are the members of the rental & leasing services industry and their market caps are similar to TGH’s market cap.
