Should You Follow the Smart Money Away From Hasbro, Inc. (HAS)?

We at Insider Monkey have gone over 742 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 funds think of Hasbro, Inc. (NASDAQ:HAS) based on that data.

Hasbro, Inc. (NASDAQ:HAS) has seen a decrease in enthusiasm from smart money lately. HAS was in 22 hedge funds’ portfolios at the end of September. There were 26 hedge funds in our database with HAS positions at the end of the previous quarter. At the end of this article we will also compare HAS to other stocks including Harris Corporation (NYSE:HRS), Fiat Chrysler Automobiles NV (NYSE:FCAU), and Macy’s, Inc. (NYSE:M) to get a better sense of its popularity.

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 Hasbro, Inc. (NASDAQ:HAS)?

At the end of the third quarter, a total of 22 of the hedge funds tracked by Insider Monkey were bullish on this stock, a 15% drop from the second quarter of 2016. After peaking at the end of Q1 with 30 hedge funds owning the stock, smart money ownership has retreated by 27% in the last 2 quarters. With the smart money’s sentiment swirling, there exists an “upper tier” of key hedge fund managers who were boosting their holdings considerably (or already accumulated large positions).

According to Insider Monkey’s hedge fund database, Cliff Asness’ AQR Capital Management has the largest position in Hasbro, Inc. (NASDAQ:HAS), worth close to $100.6 million. The second most bullish fund manager is Two Sigma Advisors, managed by John Overdeck and David Siegel, which holds a $30.5 million position. Remaining hedge funds and institutional investors that are bullish comprise Tom Gayner’s Markel Gayner Asset Management, David Harding’s Winton Capital Management and Curtis Macnguyen’s Ivory Capital (Investment Mgmt).