To the average investor, there are tons of methods market participants can use to analyze stocks. A duo of the most under-the-radar are hedge fund and insider trading movement. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the best hedge fund managers can outclass the S&P 500 by a healthy amount (see just how much).
Equally as key, positive insider trading activity is a second way to parse down the investments you’re interested in. Obviously, there are a number of stimuli for an upper level exec to sell shares of his or her company, but just one, very simple reason why they would behave bullishly. Many academic studies have demonstrated the useful potential of this strategy if shareholders know where to look (learn more here).
With these “truths” under our belt, it’s important to take a peek at the recent action surrounding Glimcher Realty Trust (NYSE:GRT).
What have hedge funds been doing with Glimcher Realty Trust (NYSE:GRT)?
At year’s end, a total of 5 of the hedge funds we track held long positions in this stock, a change of -17% from the previous quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists a few noteworthy hedge fund managers who were increasing their holdings considerably.
Of the funds we track, Citadel Investment Group, managed by Ken Griffin, holds the most valuable position in Glimcher Realty Trust (NYSE:GRT). Citadel Investment Group has a $12.3 million position in the stock, comprising less than 0.1%% of its 13F portfolio. The second largest stake is held by D E Shaw, managed by D. E. Shaw, which held a $2.6 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Other hedge funds that hold long positions include Israel Englander’s Millennium Management, Cliff Asness’s AQR Capital Management and Jim Simons’s Renaissance Technologies.
Because Glimcher Realty Trust (NYSE:GRT) has experienced declining sentiment from the aggregate hedge fund industry, logic holds that there lies a certain “tier” of hedge funds that elected to cut their full holdings in Q4. At the top of the heap, Jeffrey Furber’s AEW Capital Management sold off the biggest investment of all the hedgies we key on, comprising close to $0.5 million in stock. These moves are interesting, as aggregate hedge fund interest fell by 1 funds in Q4.
Insider trading activity in Glimcher Realty Trust (NYSE:GRT)
Bullish insider trading is most useful when the company we’re looking at has experienced transactions within the past 180 days. Over the latest 180-day time period, Glimcher Realty Trust (NYSE:GRT) has seen zero unique insiders buying, and 3 insider sales (see the details of insider trades here).
Let’s also examine hedge fund and insider activity in other stocks similar to Glimcher Realty Trust (NYSE:GRT). These stocks are EPR Properties (NYSE:EPR), Hersha Hospitality Trust (NYSE:HT), Washington Real Estate Investment Trust (NYSE:WRE), Northstar Realty Finance Corp. (NYSE:NRF), and Alexander’s, Inc. (NYSE:ALX). This group of stocks are in the reit – retail industry and their market caps match GRT’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| EPR Properties (NYSE:EPR) | 9 | 0 | 3 |
| Hersha Hospitality Trust (NYSE:HT) | 5 | 1 | 6 |
| Washington Real Estate Investment Trust (NYSE:WRE) | 6 | 0 | 4 |
| Northstar Realty Finance Corp. (NYSE:NRF) | 19 | 0 | 0 |
| Alexander’s, Inc. (NYSE:ALX) | 4 | 0 | 0 |
With the results demonstrated by our studies, everyday investors should always watch hedge fund and insider trading sentiment, and Glimcher Realty Trust (NYSE:GRT) shareholders fit into this picture quite nicely.
