We at Insider Monkey have gone over 700 13F filings that hedge funds and prominent investors are required to file by the government. The 13F filings show the funds’ and investors’ portfolio positions as of September 30. In this article we look at what those investors think of Marine Products Corp. (NYSE:MPX).
Is Marine Products Corp. the right investment to pursue these days? Prominent investors are becoming more confident. The number of long hedge fund positions went up by 2 in recent months. MPX was in 4 hedge funds’ portfolios at the end of the third quarter of 2015. There were 2 hedge funds in our database with MPX holdings at the end of the previous quarter. At the end of this article we will also compare MPX to other stocks including Model N Inc (NYSE:MODN), Orexigen Therapeutics, Inc. (NASDAQ:OREX), and Tandem Diabetes Care Inc (NASDAQ:TNDM) to get a better sense of its popularity.
Follow Marine Products Corp (NYSE:MPX)
Follow Marine Products Corp (NYSE:MPX)
In the financial world there are a lot of methods that stock traders employ to assess their holdings. A duo of the less known methods are hedge fund and insider trading signals. We have shown that, historically, those who follow the best picks of the top investment managers can outperform the broader indices by a very impressive amount (see the details here).
With all of this in mind, let’s check out the fresh action surrounding Marine Products Corp. (NYSE:MPX).
What does the smart money think about Marine Products Corp. (NYSE:MPX)?
At the end of the third quarter, a total of 4 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 100% from one quarter earlier. With hedge funds’ capital changing hands, there exists a select group of key hedge fund managers who were boosting their stakes significantly (or already accumulated large positions).
According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Mario Gabelli’s GAMCO Investors has the number one position in Marine Products Corp. (NYSE:MPX), worth close to $16.1 million, comprising 0.1% of its total 13F portfolio. The second most bullish fund manager is Renaissance Technologies, holding a $0.3 million position; less than 0.1%% of its 13F portfolio is allocated to the stock. Other peers with similar optimism consist of Mark Coe’s Coe Capital Management and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.
Now, some big names have jumped into Marine Products Corp. (NYSE:MPX) headfirst. Among them, Coe Capital Management created the largest position in Marine Products Corp. (NYSE:MPX), having $0.2 million invested in the company at the end of the quarter.
Let’s go over hedge fund activity in other stocks similar to Marine Products Corp. (NYSE:MPX). We will take a look at Model N Inc (NYSE:MODN), Orexigen Therapeutics, Inc. (NASDAQ:OREX), Tandem Diabetes Care Inc (NASDAQ:TNDM), and Cell Therapeutics Inc (NASDAQ:CTIC). This group of stocks’ market values are similar to MPX’s market value.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| MODN | 14 | 64606 | -1 |
| OREX | 19 | 48960 | -9 |
| TNDM | 8 | 25863 | -4 |
| CTIC | 8 | 17060 | -1 |
As you can see these stocks had an average of 12.25 hedge funds with bullish positions and the average amount invested in these stocks was $39 million, while in MPX, hedge funds amassed stakes with an aggregate value of $17 million. Orexigen Therapeutics, Inc. (NASDAQ:OREX) is the most popular stock in this table. On the other hand, Tandem Diabetes Care Inc (NASDAQ:TNDM) is the least popular one with only 8 bullish hedge fund positions. Compared to these stocks Marine Products Corp. (NYSE:MPX) is even less popular than TNDM. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is required.
