Funds bought these 3 S&P 500 stocks that are up this quarter

By Nico Willson for Kapitall.

On Tuesday the S&P 500 slid to its third successive daily loss, as investors became concerned with the pace of global economic growth. The losses were comprehensive with all ten primary S&P sectors falling.

These losses followed a slump in the European markets, with monthly data showing decreased French business activity and waning growth in German manufacturing.

The European data is concerning Wall St.

David Lebovitz, global market strategist for J.P. Morgan Funds in New York, said: "We didn't expect things to improve there forever and always, but we are seeing a bit of a slowdown, which is weighing a bit."

We wanted to look for S&P 500 stocks with positive performance over the past month and see if we could find any that seemed to be undervalued. We began by screening the S&P 500 for stocks with positive performance over the last quarter, meaning they outperformed the index, which left us with some 240 stocks.

We then further screened those stocks for a significant increase in institutional buying in the current quarter. This means institutional investors like hedge funds and mutual funds have bought these stocks in large quantities, likely because they have bullish sentiments towards them. 

We were left with the four companies below. Are you bullish about these stocks? Use the information below to begin your analysis. 

Click on the interactive chart to view data over time. 

 

1. Cablevision Systems Corporation ( CVC): Operates as a telecommunications, media, and entertainment company. Market cap at $5.2B, most recent closing price at $19.17.  

Net institutional purchases in the current quarter at 13.2M shares, which represents about 6.66% of the company's float of 198.16M shares. 

Biggest Holder: ClearBridge Investments, LLC at a 14.52% stake. 

 

 

2. Family Dollar Stores Inc. ( FDO): Operates a chain of self-service retail discount stores primarily for low and middle income consumers in the United States. Market cap at $8.97B, most recent closing price at $78.76.  

Net institutional purchases in the current quarter at 6.0M shares, which represents about 6.84% of the company's float of 87.70M shares. 

Biggest Holder: Trian Fund Management, LP at a 7.43% stake. 

 

 

 

3. Iron Mountain Inc. ( IRM): Provides information management and related services for various media in North America, Europe, Latin America, and the Asia Pacific. Market cap at $6.88B, most recent closing price at $35.65.  

Net institutional purchases in the current quarter at 9.2M shares, which represents about 5.42% of the company's float of 169.84M shares. 

Biggest Holder: Capital World Investors at a 12.04% stake. 

(List compiled by Nico Willson. Monthly returns sourced from Zacks Investment Research. Institutional data sourced from Fidelity. All other data sourced from Finviz.)

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