Is B/E Aerospace Inc (NASDAQ:BEAV) Going to Burn These Hedge Funds?
Does B/E Aerospace Inc (NASDAQ:BEAV) represent a good buying opportunity at the moment? Let’s briefly check the hedge fund sentiment towards the company. Hedge fund firms constantly search out bright intellectuals and highly-experienced employees and throw away millions of dollars on research activities, so it is no wonder why they tend to generate millions in profits each year. It is also true that some hedge fund players fail unconceivably on some occasions, but their stock picks have been generating superior risk-adjusted returns on average over the years.
B/E Aerospace Inc (NASDAQ:BEAV) investors should be aware of a decrease in hedge fund sentiment of late. BEAV was in 46 hedge funds’ portfolios at the end of September. There were 50 hedge funds in our database with BEAV holdings 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 Health Net, Inc. (NYSE:HNT), Jacobs Engineering Group Inc (NYSE:JEC), and Aluminum Corp. of China Limited (ADR) (NYSE:ACH) to gather more data points.
If you’d ask most shareholders, hedge funds are viewed as worthless, outdated financial vehicles of years past. While there are more than 8000 funds with their doors open at the moment, We hone in on the masters of this club, about 700 funds. These hedge fund managers preside over bulk of the smart money’s total capital, and by observing their highest performing picks, Insider Monkey has figured out a number of investment strategies that have historically beaten the market. Insider Monkey’s small-cap hedge fund strategy surpassed the S&P 500 index by 12 percentage points a year for a decade in their back tests.
Keeping this in mind, we’re going to take a look at the new action surrounding B/E Aerospace Inc (NASDAQ:BEAV).
How have hedgies been trading B/E Aerospace Inc (NASDAQ:BEAV)?
At Q3’s end, a total of 46 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of -8% from one quarter earlier. With the smart money’s sentiment swirling, there exists a few key hedge fund managers who were boosting their stakes meaningfully (or already accumulated large positions).
According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Keith Meister’s Corvex Capital has the largest position in B/E Aerospace Inc (NASDAQ:BEAV), worth close to $363 million, comprising 4.3% of its total 13F portfolio. On Corvex Capital’s heels is Thomas Steyer’s Farallon Capital holding a $207.6 million position; the fund has 2.7% of its 13F portfolio invested in the stock. Some other peers that are bullish contain Jonathon Jacobson’s Highfields Capital Management, and Daniel S. Och’s OZ Management.
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