Net 1 UEPS Technologies Inc (NASDAQ:UEPS) was in 11 hedge funds' portfolio at the end of December. UEPS has experienced an increase in hedge fund sentiment of late. There were 10 hedge funds in our database with UEPS positions at the end of the previous quarter.
In the financial world, there are a multitude of methods shareholders can use to track their holdings. A pair of the most useful are hedge fund and insider trading interest. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the best money managers can outpace the broader indices by a significant amount (see just how much).
Equally as key, optimistic insider trading sentiment is another way to break down the stock market universe. Just as you'd expect, there are lots of stimuli for an upper level exec to cut shares of his or her company, but just one, very clear reason why they would behave bullishly. Many empirical studies have demonstrated the valuable potential of this strategy if you know what to do (learn more here).
Keeping this in mind, we're going to take a gander at the latest action encompassing Net 1 UEPS Technologies Inc (NASDAQ:UEPS).
In preparation for this year, a total of 11 of the hedge funds we track were long in this stock, a change of 10% from the previous quarter. With the smart money's capital changing hands, there exists a select group of notable hedge fund managers who were boosting their holdings significantly.
According to our comprehensive database, International Value Advisers, managed by Charles de Vaulx, holds the biggest position in Net 1 UEPS Technologies Inc (NASDAQ:UEPS). International Value Advisers has a $62 million position in the stock, comprising 1.4% of its 13F portfolio. Sitting at the No. 2 spot is Jim Simons of Renaissance Technologies, with a $3 million position; the fund has 0% of its 13F portfolio invested in the stock. Some other hedge funds that hold long positions include Phil Frohlich's Prescott Group Capital Management, D. E. Shaw's D E Shaw and Mike Vranos's Ellington.
As aggregate interest increased, key money managers have jumped into Net 1 UEPS Technologies Inc (NASDAQ:UEPS) headfirst. Ellington, managed by Mike Vranos, established the most outsized position in Net 1 UEPS Technologies Inc (NASDAQ:UEPS). Ellington had 0 million invested in the company at the end of the quarter. Steven Cohen's SAC Capital Advisors also made a $0 million investment in the stock during the quarter.
Bullish insider trading is best served when the company in focus has experienced transactions within the past half-year. Over the last six-month time frame, Net 1 UEPS Technologies Inc (NASDAQ:UEPS) has seen zero unique insiders purchasing, and zero 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 Net 1 UEPS Technologies Inc (NASDAQ:UEPS). These stocks are Carbonite Inc (NASDAQ:CARB), Consolidated Graphics, Inc. (NYSE:CGX), Furiex Pharmaceuticals Inc (NASDAQ:FURX), CBIZ, Inc. (NYSE:CBZ), and Safeguard Scientifics, Inc (NYSE:SFE). This group of stocks belong to the business services industry and their market caps are closest to UEPS's market cap.
|Company Name||# of Hedge Funds||# of Insiders Buying||# of Insiders Selling|
|Carbonite Inc (NASDAQ:CARB)||3||0||6|
|Consolidated Graphics, Inc. (NYSE:CGX)||9||1||0|
|Furiex Pharmaceuticals Inc (NASDAQ:FURX)||4||0||2|
|CBIZ, Inc. (NYSE:CBZ)||9||2||1|
|Safeguard Scientifics, Inc (NYSE:SFE)||6||2||0|
With the results shown by our strategies, retail investors should always pay attention to hedge fund and insider trading activity, and Net 1 UEPS Technologies Inc (NASDAQ:UEPS) shareholders fit into this picture quite nicely.