Hedge Funds Are Crazy About Ion Geophysical Corp (IO)

Page 1 of 2

Ion Geophysical Corp (NYSE:IO) was in 15 hedge funds’ portfolio at the end of March. IO shareholders have witnessed an increase in hedge fund interest recently. There were 13 hedge funds in our database with IO holdings at the end of the previous quarter.

Ion Geophysical Corp (NYSE:IO)If you’d ask most market participants, hedge funds are perceived as worthless, outdated investment tools of years past. While there are over 8000 funds trading today, we hone in on the top tier of this club, around 450 funds. It is widely believed that this group oversees most of all hedge funds’ total capital, and by paying attention to their top picks, we have formulated a few investment strategies that have historically outpaced the market. Our small-cap hedge fund strategy outpaced the S&P 500 index by 18 percentage points per year for a decade in our back tests, and since we’ve started sharing our picks with our subscribers at the end of August 2012, we have topped the S&P 500 index by 23.3 percentage points in 8 months (see the details here).

Equally as important, bullish insider trading activity is a second way to break down the investments you’re interested in. Obviously, there are lots of reasons for an executive to sell shares of his or her company, but only one, very clear reason why they would initiate a purchase. Plenty of empirical studies have demonstrated the impressive potential of this tactic if piggybackers know what to do (learn more here).

Keeping this in mind, let’s take a glance at the key action surrounding Ion Geophysical Corp (NYSE:IO).

How are hedge funds trading Ion Geophysical Corp (NYSE:IO)?

Heading into Q2, a total of 15 of the hedge funds we track held long positions in this stock, a change of 15% from one quarter earlier. With the smart money’s sentiment swirling, there exists a select group of key hedge fund managers who were boosting their holdings significantly.

According to our comprehensive database, Daruma Asset Management, managed by Mariko Gordon, holds the most valuable position in Ion Geophysical Corp (NYSE:IO). Daruma Asset Management has a $39.9 million position in the stock, comprising 2% of its 13F portfolio. The second largest stake is held by Chuck Royce of Royce & Associates, with a $8 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Other peers that are bullish include Glenn Russell Dubin’s Highbridge Capital Management, Cliff Asness’s AQR Capital Management and D. E. Shaw’s D E Shaw.

As aggregate interest increased, key hedge funds were leading the bulls’ herd. Renaissance Technologies, managed by Jim Simons, assembled the most valuable position in Ion Geophysical Corp (NYSE:IO). Renaissance Technologies had 1.6 million invested in the company at the end of the quarter. Matthew Tewksbury’s Stevens Capital Management also made a $0.4 million investment in the stock during the quarter. The other funds with brand new IO positions are Neil Chriss’s Hutchin Hill Capital, David Harding’s Winton Capital Management, and Paul Tudor Jones’s Tudor Investment Corp.

Insider trading activity in Ion Geophysical Corp (NYSE:IO)

Insider purchases made by high-level executives is most useful when the primary stock in question has seen transactions within the past half-year. Over the last six-month time frame, Ion Geophysical Corp (NYSE:IO) has seen 1 unique insiders buying, and 3 insider sales (see the details of insider trades here).

Let’s also review hedge fund and insider activity in other stocks similar to Ion Geophysical Corp (NYSE:IO). These stocks are MTS Systems Corporation (NASDAQ:MTSC), Analogic Corporation (NASDAQ:ALOG), Cubic Corporation (NYSE:CUB), ESCO Technologies Inc. (NYSE:ESE), and II-VI, Inc. (NASDAQ:IIVI). This group of stocks are the members of the scientific & technical instruments industry and their market caps resemble IO’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

10 Jobs that May Exist in the Future

The Absolute Best States to Shop in the US

5 Best States for Golf Adventures

Top 15 Places To Visit Before You Die

10 Most Expensive Smartphones in the World

10 States with Lowest Physician Density

10 Top Reasons For Getting Fired

The 3 Best States to Start an LLC

10 Jobs That Allow You to Travel

7 High-Paying Jobs You Can Do From Home

12 Best Cities to Shop in USA

10 Best States To Practice Medicine

The 10 Best States to Have a Business

The 12 Most Expensive Apple (AAPL) Apps in the Market

The 10 Richest Billionaires in the World

10 Biggest Kickstarter Failures

The 10 Best Places to Work At

The Top 10 of Google Inc (GOOGL)’s Most Expensive Acquisitions

13 Best Cities to Visit in South America

10 Most Expensive Works of Art of All Time

The 10 Richest Banks in the World

The 10 Best-Paying Jobs in America (2014)

7 Most Expensive Foods in the World

The World’s Top 10 Earning Authors

Five Wicked and Very Expensive Items (and Other “Stuff”) Sold on eBay

10 Biggest Celebrity Bankruptcies

The Top 10 Highest Paid CEOs in 2014

The 10 Most Expensive Real Estate Cities in America

10 Most Expensive States To Live In America

The 10 Best Airlines in the World

The 10 Best-Selling Cars in 2014

The 10 Best Industries to Invest In

The 10 Most Expensive States to Own a Car In

Top 10 Business Schools in US: 2014 Rankings

Top 20 Female Billionaires in 2014

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

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

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!