Hedge Funds Are Selling Logitech International SA (USA) (LOGI)

Due to the fact that Logitech International SA (USA) (NASDAQ:LOGI) has experienced falling interest from the smart money, we can see that there was a specific group of funds who sold off their positions entirely heading into Q4. Interestingly, Robert B. Gillam’s McKinley Capital Management dumped the biggest position of the 700 funds followed by Insider Monkey, worth about $6.9 million in stock, and Ben Levine, Andrew Manuel and Stefan Renold’s LMR Partners was right behind this move, as the fund dumped about $0.8 million worth. These moves are important to note, as total hedge fund interest was cut by 4 funds heading into Q4.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Logitech International SA (USA) (NASDAQ:LOGI) but similarly valued. These stocks are UniFirst Corp (NYSE:UNF), Marriott Vacations Worldwide Corp (NYSE:VAC), Swift Transportation Co (NYSE:SWFT), and Washington Federal Inc. (NASDAQ:WAFD). All of these stocks’ market caps match LOGI’s market cap.

As you can see these stocks had an average of 22 hedge funds with bullish positions and the average amount invested in these stocks was $179 million, versus $20 million in LOGI’s case. Swift Transportation Co (NYSE:SWFT) is the most popular stock in this table, while Washington Federal Inc. (NASDAQ:WAFD) is the least popular one with only 13 bullish hedge fund positions. Compared to these stocks Logitech International SA (USA) (NASDAQ:LOGI) is even less popular than WAFD. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.