A whopping number of 13F filings filed with U.S. Securities and Exchange Commission has been processed by Insider Monkey so that individual investors can look at the overall hedge fund sentiment towards the stocks included in their watchlists. These freshly-submitted public filings disclose money managers’ equity positions as of the end of the three-month period that ended March 31, so let’s proceed with the discussion of the hedge fund sentiment on Tailored Brands, Inc. (NYSE:TLRD).
Hedge fund interest in Tailored Brands, Inc. (NYSE:TLRD) shares was flat at the end of last quarter. This is usually a negative indicator. At the end of this article we will also compare TLRD to other stocks including Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX), Golden Entertainment Inc (NASDAQ:GDEN), and Gores Metropoulos, Inc. (NASDAQ:GMHI) to get a better sense of its popularity.
Why do we pay any attention at all to hedge fund sentiment? Our research has shown that hedge funds' large-cap stock picks indeed failed to beat the market between 1999 and 2016. However, we were able to identify in advance a select group of hedge fund holdings that outperformed the market by 40 percentage points since May 2014 through May 30, 2019 (see the details here). We were also able to identify in advance a select group of hedge fund holdings that'll significantly underperform the market. We have been tracking and sharing the list of these stocks since February 2017 and they lost 30.9% through May 30, 2019. That's why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to.
We're going to review the latest hedge fund action surrounding Tailored Brands, Inc. (NYSE:TLRD).
How have hedgies been trading Tailored Brands, Inc. (NYSE:TLRD)?
Heading into the second quarter of 2019, a total of 18 of the hedge funds tracked by Insider Monkey were long this stock, a change of 0% from the fourth quarter of 2018. Below, you can check out the change in hedge fund sentiment towards TLRD over the last 15 quarters. With the smart money's capital changing hands, there exists an "upper tier" of key hedge fund managers who were boosting their holdings significantly (or already accumulated large positions).
Of the funds tracked by Insider Monkey, Millennium Management, managed by Israel Englander, holds the biggest position in Tailored Brands, Inc. (NYSE:TLRD). Millennium Management has a $9.5 million position in the stock, comprising less than 0.1%% of its 13F portfolio. The second largest stake is held by Michael Burry of Scion Asset Management, with a $6.8 million position; 6.9% of its 13F portfolio is allocated to the stock. Some other hedge funds and institutional investors that are bullish consist of Ken Griffin's Citadel Investment Group, Cliff Asness's AQR Capital Management and Jim Simons's Renaissance Technologies.