Hedge Funds Are Selling Harmonic Inc (HLIT)

Page 1 of 2

Harmonic Inc (NASDAQ:HLIT) was in 9 hedge funds’ portfolio at the end of March. HLIT shareholders have witnessed a decrease in hedge fund interest recently. There were 11 hedge funds in our database with HLIT positions at the end of the previous quarter.

If you’d ask most market participants, hedge funds are seen as unimportant, old financial vehicles of yesteryear. While there are over 8000 funds in operation at present, we hone in on the leaders of this group, about 450 funds. It is widely believed that this group oversees the majority of all hedge funds’ total capital, and by watching their highest performing stock picks, we have determined a number of investment strategies that have historically beaten the market. Our small-cap hedge fund strategy outstripped the S&P 500 index by 18 percentage points per annum 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 outclassed the S&P 500 index by 23.3 percentage points in 8 months (check out a sample of our picks).

Equally as key, positive insider trading sentiment is a second way to break down the marketplace. There are lots of reasons for an executive to drop shares of his or her company, but just one, very simple reason why they would buy. Many empirical studies have demonstrated the useful potential of this method if piggybackers understand what to do (learn more here).

Consequently, let’s take a gander at the recent action surrounding Harmonic Inc (NASDAQ:HLIT).

What have hedge funds been doing with Harmonic Inc (NASDAQ:HLIT)?

Heading into Q2, a total of 9 of the hedge funds we track were long in this stock, a change of -18% from one quarter earlier. With hedgies’ capital changing hands, there exists a few key hedge fund managers who were boosting their stakes considerably.

Harmonic Inc (NASDAQ:HLIT)When looking at the hedgies we track, Chuck Royce’s Royce & Associates had the largest position in Harmonic Inc (NASDAQ:HLIT), worth close to $14.9 million, accounting for less than 0.1%% of its total 13F portfolio. Sitting at the No. 2 spot is Arrowstreet Capital, managed by Peter Rathjens, Bruce Clarke and John Campbell, which held a $4.5 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Other hedgies that are bullish include Cliff Asness’s AQR Capital Management, Israel Englander’s Millennium Management and Jim Simons’s Renaissance Technologies.

Due to the fact that Harmonic Inc (NASDAQ:HLIT) has witnessed bearish sentiment from hedge fund managers, it’s easy to see that there lies a certain “tier” of money managers who were dropping their entire stakes at the end of the first quarter. Intriguingly, Peter Algert and Kevin Coldiron’s Algert Coldiron Investors dropped the biggest position of the 450+ funds we key on, totaling close to $0.8 million in stock., and Neil Chriss of Hutchin Hill Capital was right behind this move, as the fund sold off about $0.2 million worth. These transactions are intriguing to say the least, as total hedge fund interest fell by 2 funds at the end of the first quarter.

How have insiders been trading Harmonic Inc (NASDAQ:HLIT)?

Insider trading activity, especially when it’s bullish, is particularly usable when the primary stock in question has seen transactions within the past 180 days. Over the last 180-day time period, Harmonic Inc (NASDAQ:HLIT) has experienced zero unique insiders purchasing, and 1 insider sales (see the details of insider trades here).

Let’s also review hedge fund and insider activity in other stocks similar to Harmonic Inc (NASDAQ:HLIT). These stocks are 8×8, Inc. (NASDAQ:EGHT), Infinera Corp. (NASDAQ:INFN), Vocera Communications Inc (NYSE:VCRA), Tellabs, Inc. (NASDAQ:TLAB), and Sonus Networks, Inc. (NASDAQ:SONS). This group of stocks are in the communication equipment industry and their market caps are similar to HLIT’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

Qihoo 360 Technology Co Ltd (QIHU), Actavis plc (ACT), Yahoo! Inc. (YHOO) Among 20 Long Ideas from Sohn Canada

The 10 Laziest Countries in the World

The 10 Most Polluted Countries in the World

The 10 Most Dangerous Cities in America 2014

The Top 10 Gold Producing Countries in the World

The 10 Tallest Buildings in the World

The 10 Richest Stand Up Comedians in the World

The 10 Fattest Countries in the World

The 5 Best Summer Jobs for Teens

The 10 Most Religious Countries in the World Keeping the Faith

The 10 Most Educated Countries in the World

The 10 Most Popular Cell Phones in the World

The 10 Drunkest Countries in the World

The 10 Most Expensive Private Schools in the World

The 10 Smallest Countries in the World

Walking Dead Season 5 Spoilers You’ll Wish You Didn’t Know

The 10 Poorest Countries in the World

The 10 Greenest Countries in the World

The Top 10 Countries with the Highest Population in the World

The 10 Most Visited Countries in the World

The Top 10 Star Wars Characters in the Iconic Series

The 10 Most Expensive Android Phones in the World

5 Reasons Why The Illuminati Is Real and a Threat to Society

The 6 Scariest Halloween Costumes Ever Screamed At

The 4 Biggest Hedge Fund Managers in the World Today

The 15 Most Densely Populated Countries in the World

The 10 Biggest Tea Drinking Countries in the World

Top 6 Ways to Improve Your Checkout Process and Close Sales

The 5 Most Profitable Online Businesses You Can Start Today

The 20 Most Profitable Hospitals in the US

The 5 Most Profitable Home Businesses to Start

The 7 Teams that Will Win the Stanley Cup in 2015

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

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!