Is Benchmark Electronics, Inc. (NYSE:BHE) the right investment to pursue these days? Investors who are in the know are in a bullish mood. The number of bullish hedge fund positions moved up by 2 in recent months.
At the moment, there are tons of indicators investors can use to monitor Mr. Market. A duo of the most innovative are hedge fund and insider trading movement. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the elite fund managers can trounce the broader indices by a solid amount (see just how much).
Equally as beneficial, bullish insider trading activity is another way to break down the financial markets. Obviously, there are plenty of stimuli for a corporate insider to get rid of shares of his or her company, but only one, very obvious reason why they would behave bullishly. Various academic studies have demonstrated the useful potential of this method if investors understand where to look (learn more here).
Keeping this in mind, we’re going to take a gander at the latest action encompassing Benchmark Electronics, Inc. (NYSE:BHE).
How have hedgies been trading Benchmark Electronics, Inc. (NYSE:BHE)?
At Q1’s end, a total of 15 of the hedge funds we track were bullish in this stock, a change of 15% from the first quarter. With hedgies’ capital changing hands, there exists an “upper tier” of noteworthy hedge fund managers who were upping their holdings considerably.
According to our comprehensive database, Royce & Associates, managed by Chuck Royce, holds the biggest position in Benchmark Electronics, Inc. (NYSE:BHE). Royce & Associates has a $88.3 million position in the stock, comprising 0.3% of its 13F portfolio. Sitting at the No. 2 spot is Lakewood Capital Management, managed by Anthony Bozza, which held a $10.2 million position; 0.7% of its 13F portfolio is allocated to the company. Some other peers that are bullish include Jim Simons’s Renaissance Technologies, John Overdeck and David Siegel’s Two Sigma Advisors and Cliff Asness’s AQR Capital Management.
With a general bullishness amongst the heavyweights, some big names were leading the bulls’ herd. Renaissance Technologies, managed by Jim Simons, assembled the most valuable position in Benchmark Electronics, Inc. (NYSE:BHE). Renaissance Technologies had 4.7 million invested in the company at the end of the quarter. Matthew Tewksbury’s Stevens Capital Management also made a $0.5 million investment in the stock during the quarter. The only other fund with a brand new BHE position is Paul Tudor Jones’s Tudor Investment Corp.
How are insiders trading Benchmark Electronics, Inc. (NYSE:BHE)?
Insider trading activity, especially when it’s bullish, is best served when the company in question has seen transactions within the past 180 days. Over the latest six-month time period, Benchmark Electronics, Inc. (NYSE:BHE) has seen zero unique insiders buying, and 5 insider sales (see the details of insider trades here).
Let’s also examine hedge fund and insider activity in other stocks similar to Benchmark Electronics, Inc. (NYSE:BHE). These stocks are Park Electrochemical Corp. (NYSE:PKE), TTM Technologies, Inc. (NASDAQ:TTMI), Celestica Inc. (USA) (NYSE:CLS), Raven Industries, Inc. (NASDAQ:RAVN), and Plexus Corp. (NASDAQ:PLXS). All of these stocks are in the printed circuit boards industry and their market caps are closest to BHE’s market cap.