Here is What Hedge Funds Think About Intermec Inc. (IN)
Should Intermec Inc. (NYSE:IN) investors track the following data?
To the average investor, there are a multitude of gauges market participants can use to watch the equity markets. A couple of the most innovative are hedge fund and insider trading movement. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the top investment managers can trounce the market by a solid margin (see just how much).
Just as crucial, positive insider trading sentiment is another way to look at the world of equities. There are many stimuli for a corporate insider to sell shares of his or her company, but only one, very clear reason why they would buy. Many empirical studies have demonstrated the valuable potential of this method if investors understand what to do (learn more here).
What's more, let's examine the recent info for Intermec Inc. (NYSE:IN).
Hedge fund activity in Intermec Inc. (NYSE:IN)
At the end of the second quarter, a total of 8 of the hedge funds we track were bullish in this stock, a change of -27% from one quarter earlier. With the smart money's positions undergoing their usual ebb and flow, there exists a few key hedge fund managers who were increasing their stakes considerably.
According to our 13F database, Mario Gabelli's GAMCO Investors had the biggest position in Intermec Inc. (NYSE:IN), worth close to $58.1 million, comprising 0.4% of its total 13F portfolio. The second largest stake is held by AQR Capital Management, managed by Cliff Asness, which held a $42.6 million position; the fund has 0.2% of its 13F portfolio invested in the stock. Some other hedge funds with similar optimism include Robert Emil Zoellner's Alpine Associates, Matthew Tewksbury's Stevens Capital Management and Jim Simons's Renaissance Technologies.
Due to the fact Intermec Inc. (NYSE:IN) has experienced a fall in interest from the top-tier hedge fund industry, logic holds that there is a sect of hedgies that elected to cut their positions entirely heading into Q2. It's worth mentioning that D. E. Shaw's D E Shaw dumped the biggest stake of all the hedgies we monitor, comprising an estimated $4.2 million in stock. Sander Gerber's fund, Hudson Bay Capital Management, also dropped its stock, about $1 million worth. These moves are important to note, as aggregate hedge fund interest fell by 3 funds heading into Q2.
What have insiders been doing with Intermec Inc. (NYSE:IN)?
Legal insider trading, particularly when it's bullish, is best served when the company in question has seen transactions within the past six months. Over the latest 180-day time frame, Intermec Inc. (NYSE:IN) has experienced zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
We'll go over the relationship between both of these indicators in other stocks similar to Intermec Inc. (NYSE:IN). These stocks are Universal Display Corporation (NASDAQ:PANL), Synaptics, Incorporated (NASDAQ:SYNA), Logitech International SA (USA) (NASDAQ:LOGI), Electronics For Imaging, Inc. (NASDAQ:EFII), and Immersion Corporation (NASDAQ:IMMR). This group of stocks belong to the computer peripherals industry and their market caps are similar to IN's market cap.
# of Hedge Funds
# of Insiders Buying
# of Insiders Selling
Universal Display Corporation (NASDAQ:PANL)
Synaptics, Incorporated (NASDAQ:SYNA)
Logitech International SA (USA) (NASDAQ:LOGI)
Electronics For Imaging, Inc. (NASDAQ:EFII)
Immersion Corporation (NASDAQ:IMMR)
Using the returns demonstrated by the previously mentioned analyses, regular investors must always pay attention to hedge fund and insider trading activity, and Intermec Inc. (NYSE:IN) shareholders fit into this picture quite nicely.