Hedge Funds are Dumping Monsanto Stock
August 21, 2013
Monsanto Company (NYSE:MON) has had one of the most up-and-down years of the stocks we track. Shares of the ag behemoth have been unable to get on a run in 2013, as constant drama over GMOs seems to be hitting the newswires daily. With that in mind, it appears that some hedge funds want nothing to do with it.
What’s more, it’s important to examine the latest info for Monsanto Company (NYSE:MON).
What have hedge funds been doing with Monsanto Company (NYSE:MON)?
In preparation for the third quarter, a total of 59 of the hedge funds we track held long positions in this stock, a change of -6% from one quarter earlier. With hedge funds’ sentiment swirling, there exists a select group of key hedge fund managers who were upping their stakes substantially.Out of the hedge funds we follow, Stephen Mandel’s Lone Pine Capital had the most valuable position in Monsanto Company (NYSE:MON), worth close to $613.3 million, accounting for 3% of its total 13F portfolio. On Lone Pine Capital’s heels is Andreas Halvorsen of Viking Global, with a $414.5 million position; 2.3% of its 13F portfolio is allocated to the company. Other peers with similar optimism include Phill Gross and Robert Atchinson’s Adage Capital Management, John Griffin’s Blue Ridge Capital and Jason Capello’s Merchants’ Gate Capital.
Since Monsanto Company (NYSE:MON) has experienced declining interest from the entirety of the hedge funds we track, logic holds that there exists a select few hedgies that decided to sell off their positions entirely at the end of the second quarter. At the top of the heap, Jeffrey Vinik’s Vinik Asset Management said goodbye to the largest stake of the 450+ funds we monitor, totaling close to $100.8 million in stock. Sean Cullinan’s fund, Point State Capital, also dropped its stock, about $54.7 million worth. These transactions are interesting, as total hedge fund interest was cut by 4 funds at the end of the second quarter.
What do corporate executives and insiders think about Monsanto Company (NYSE:MON)?
Legal insider trading, particularly when it’s bullish, is particularly usable when the company in focus has seen transactions within the past half-year. Over the last half-year time period, Monsanto Company (NYSE:MON) has seen zero unique insiders purchasing, and 10 insider sales (see the details of insider trades here).
Using the results demonstrated by Insider Monkey’s tactics, average investors should always watch hedge fund and insider trading sentiment, and Monsanto Company (NYSE:MON) is no exception.