Hanger Inc (NYSE:HGR) was in 10 hedge funds' portfolio at the end of March. HGR investors should be aware of an increase in activity from the world's largest hedge funds recently. There were 9 hedge funds in our database with HGR positions at the end of the previous quarter.
In today’s marketplace, there are many methods investors can use to analyze stocks. A duo of the most useful are hedge fund and insider trading activity. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the elite fund managers can outpace the S&P 500 by a healthy amount (see just how much).
Equally as key, positive insider trading activity is another way to parse down the investments you're interested in. Obviously, there are a number of incentives for an executive to cut shares of his or her company, but just one, very clear reason why they would initiate a purchase. Various academic studies have demonstrated the useful potential of this strategy if investors know where to look (learn more here).
With these "truths" under our belt, let's take a look at the recent action regarding Hanger Inc (NYSE:HGR).
In preparation for this quarter, a total of 10 of the hedge funds we track were long in this stock, a change of 11% from one quarter earlier. With hedge funds' sentiment swirling, there exists an "upper tier" of key hedge fund managers who were boosting their holdings considerably.
When looking at the hedgies we track, Citadel Investment Group, managed by Ken Griffin, holds the most valuable position in Hanger Inc (NYSE:HGR). Citadel Investment Group has a $3.5 million position in the stock, comprising less than 0.1%% of its 13F portfolio. Coming in second is Two Sigma Advisors, managed by John Overdeck and David Siegel, which held a $2.6 million position; less than 0.1%% of its 13F portfolio is allocated to the company. Other hedgies with similar optimism include Jim Simons's Renaissance Technologies, Israel Englander's Millennium Management and Cliff Asness's AQR Capital Management.
As aggregate interest increased, key hedge funds have jumped into Hanger Inc (NYSE:HGR) headfirst. Arrowstreet Capital, managed by Peter Rathjens, Bruce Clarke and John Campbell, created the most valuable position in Hanger Inc (NYSE:HGR). Arrowstreet Capital had 0.5 million invested in the company at the end of the quarter. Paul Tudor Jones's Tudor Investment Corp also initiated a $0.4 million position during the quarter.
Insider purchases made by high-level executives is at its handiest when the primary stock in question has seen transactions within the past half-year. Over the latest 180-day time period, Hanger Inc (NYSE:HGR) has seen zero unique insiders purchasing, and 15 insider sales (see the details of insider trades here).
Let's check out hedge fund and insider activity in other stocks similar to Hanger Inc (NYSE:HGR). These stocks are U.S. Physical Therapy, Inc. (NYSE:USPH), Healthways, Inc. (NASDAQ:HWAY), HEALTHSOUTH Corp. (NYSE:HLS), IPC The Hospitalist Company Inc (NASDAQ:IPCM), and Acadia Healthcare Company Inc (NASDAQ:ACHC). This group of stocks are the members of the specialized health services industry and their market caps are similar to HGR's market cap.