Cubic Corporation (NYSE:CUB) has experienced a decrease in activity from the world’s largest hedge funds in recent months.
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With all of this in mind, it’s important to take a look at the latest action surrounding Cubic Corporation (NYSE:CUB).
How are hedge funds trading Cubic Corporation (NYSE:CUB)?
At Q1’s end, a total of 9 of the hedge funds we track were long in this stock, a change of -25% from the previous quarter. With hedgies’ sentiment swirling, there exists a few noteworthy hedge fund managers who were increasing their stakes substantially.
According to our comprehensive database, Chuck Royce’s Royce & Associates had the largest position in Cubic Corporation (NYSE:CUB), worth close to $80.2 million, comprising 0.2% of its total 13F portfolio. On Royce & Associates’s heels is Michael Doheny of Freshford Capital Management, with a $6.2 million position; 0.9% of its 13F portfolio is allocated to the stock. Remaining peers that are bullish include Ken Griffin’s Citadel Investment Group, Matthew Knauer and Mina Faltas’s Nokota Management and Cliff Asness’s AQR Capital Management.
Judging by the fact that Cubic Corporation (NYSE:CUB) has experienced a declination in interest from the aggregate hedge fund industry, we can see that there was a specific group of funds that elected to cut their positions entirely last quarter. It’s worth mentioning that Matthew Tewksbury’s Stevens Capital Management sold off the biggest stake of the 450+ funds we track, totaling about $0.4 million in stock.. Murray Stahl’s fund, Horizon Asset Management, also dumped its stock, about $0.3 million worth. These bearish behaviors are interesting, as aggregate hedge fund interest dropped by 3 funds last quarter.
What have insiders been doing with Cubic Corporation (NYSE:CUB)?
Insider trading activity, especially when it’s bullish, is best served when the primary stock in question has experienced transactions within the past half-year. Over the last half-year time period, Cubic Corporation (NYSE:CUB) has experienced zero unique insiders purchasing, and 1 insider sales (see the details of insider trades here).
Let’s also take a look at hedge fund and insider activity in other stocks similar to Cubic Corporation (NYSE:CUB). These stocks are MTS Systems Corporation (NASDAQ:MTSC), Analogic Corporation (NASDAQ:ALOG), II-VI, Inc. (NASDAQ:IIVI), Ion Geophysical Corp (NYSE:IO), and ESCO Technologies Inc. (NYSE:ESE). All of these stocks are in the scientific & technical instruments industry and their market caps are similar to CUB’s market cap.