Do Hedge Funds and Insiders Love Emulex Corporation (ELX)?

Page 1 of 2

In the eyes of many of your fellow readers, hedge funds are viewed as useless, old financial vehicles of a period lost to current times. Although there are over 8,000 hedge funds in operation currently, this site focuses on the crème de la crème of this club, close to 525 funds. It is assumed that this group oversees the lion’s share of the smart money’s total assets, and by monitoring their highest performing equity investments, we’ve revealed a number of investment strategies that have historically outpaced the market. Our small-cap hedge fund strategy beat the S&P 500 index by 18 percentage points a year for a decade in our back tests, and since we’ve began to sharing our picks with our subscribers at the end of August 2012, we have beaten the S&P 500 index by 33 percentage points in 11 months (find a sample of our picks).

Equally as useful, optimistic insider trading activity is a second way to analyze the stock market universe. There are plenty of reasons for an insider to cut shares of his or her company, but just one, very obvious reason why they would behave bullishly. Various empirical studies have demonstrated the impressive potential of this tactic if piggybackers understand what to do (learn more here).

What’s more, we’re going to discuss the newest info for Emulex Corporation (NYSE:ELX).

CorpHorzColor500

Hedge fund activity in Emulex Corporation (NYSE:ELX)

In preparation for the third quarter, a total of 22 of the hedge funds we track were bullish in this stock, a change of 5% from one quarter earlier. With the smart money’s capital changing hands, there exists a few noteworthy hedge fund managers who were upping their stakes significantly.

When using filings from the hedgies we track, Elliott Management, managed by Paul Singer, holds the most valuable position in Emulex Corporation (NYSE:ELX). Elliott Management has a $58.2 million position in the stock, comprising 1.1% of its 13F portfolio. On Elliott Management’s heels is Altai Capital, managed by Rishi Bajaj, Toby Symonds, and Steve Tesoriere, which held a $35.7 million position; the fund has 11.6% of its 13F portfolio invested in the stock. Some other peers that hold long positions include Jeffrey Smith’s Starboard Value LP, Youlia Miteva’s Proxima Capital Management and Chuck Royce’s Royce & Associates.

Consequently, particular hedge funds were breaking ground themselves. Elliott Management, managed by Paul Singer, initiated the most valuable position in Emulex Corporation (NYSE:ELX). Elliott Management had 58.2 million invested in the company at the end of the quarter. Rishi Bajaj, Toby Symonds, and Steve Tesoriere’s Altai Capital also made a $35.7 million investment in the stock during the quarter. The other funds with new positions in the stock are Jeffrey Smith’s Starboard Value LP, Youlia Miteva’s Proxima Capital Management, and Chuck Royce’s Royce & Associates.

How have insiders been trading Emulex Corporation (NYSE:ELX)?

Insider buying is most useful when the company we’re looking at has seen transactions within the past six months. Over the latest half-year time frame, Emulex Corporation (NYSE:ELX) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).

We’ll also review the relationship between both of these indicators in other stocks similar to Emulex Corporation (NYSE:ELX). These stocks are STEC, Inc. (NASDAQ:STEC), Fusion-IO, Inc. (NYSE:FIO), Datalink Corporation (NASDAQ:DTLK), Xyratex Ltd. (NASDAQ:XRTX), and Quantum Corp (NYSE:QTM). All of these stocks are in the data storage devices industry and their market caps match ELX’s market cap.

Page 1 of 2
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

Top 30 Most Influential Women in the World

Top 20 Most Expensive New Year Eve Shows

Top 5 Best Vocational Careers

Top 10 Jobs for 2014 by Salary Gain (Predictions)

Top 5 Digital Trends for 2014

Top 6 Things You Can Do To Increase Your Productivity

Top 9 Trending Smartphones in 2013

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!