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Hedge Funds Aren’t Crazy About Cutera, Inc. (CUTR) Anymore

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Now, according to many traders, hedge funds are perceived as useless, old investment vehicles of a period lost to current times. Although there are In excess of 8,000 hedge funds in operation today, this site aim at the crème de la crème of this group, about 525 funds. It is widely held that this group has its hands on the lion’s share of the hedge fund industry’s total assets, and by watching their highest quality equity investments, we’ve figured out a number of investment strategies that have historically outpaced the broader indices. Our small-cap hedge fund strategy beat the S&P 500 index by 18 percentage points a 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 outperformed the S&P 500 index by 33 percentage points in 11 months (find the details here).

Just as necessary, bullish insider trading sentiment is a second way to analyze the investments you’re interested in. As the old adage goes: there are lots of reasons for a bullish insider to get rid of shares of his or her company, but only one, very obvious reason why they would buy. Plenty of academic studies have demonstrated the market-beating potential of this strategy if “monkeys” understand what to do (learn more here).

What’s more, we’re going to discuss the newest info for Cutera, Inc. (NASDAQ:CUTR).

Cutera, Inc. (NASDAQ:CUTR)

What does the smart money think about Cutera, Inc. (NASDAQ:CUTR)?

In preparation for the third quarter, a total of 11 of the hedge funds we track were long in this stock, a change of -8% from one quarter earlier. With hedgies’ capital changing hands, there exists a few key hedge fund managers who were boosting their holdings significantly.

According to our 13F database, Jim Simons’s Renaissance Technologies had the most valuable position in Cutera, Inc. (NASDAQ:CUTR), worth close to $5.8 million, comprising less than 0.1%% of its total 13F portfolio. Coming in second is GAMCO Investors, managed by Mario Gabelli, which held a $5.6 million position; less than 0.1%% of its 13F portfolio is allocated to the stock. Remaining hedgies with similar optimism include Chuck Royce’s Royce & Associates, Kevin Kotler’s Broadfin Capital and Benjamin J Taylor’s Sophrosyne Capital.

Judging by the fact that Cutera, Inc. (NASDAQ:CUTR) has witnessed bearish sentiment from the entirety of the hedge funds we track, logic holds that there lies a certain “tier” of money managers that elected to cut their entire stakes heading into Q2. At the top of the heap, Richard Driehaus’s Driehaus Capital dumped the biggest investment of the 450+ funds we watch, valued at close to $3.8 million in stock. Israel Englander’s fund, Millennium Management, also cut its stock, about $1 million worth. These moves are interesting, as aggregate hedge fund interest fell by 1 funds heading into Q2.

What do corporate executives and insiders think about Cutera, Inc. (NASDAQ:CUTR)?

Legal insider trading, particularly when it’s bullish, is best served when the company in focus has seen transactions within the past half-year. Over the latest half-year time period, Cutera, Inc. (NASDAQ:CUTR) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).

We’ll go over the relationship between both of these indicators in other stocks similar to Cutera, Inc. (NASDAQ:CUTR). These stocks are Zeltiq Aesthetics Inc (NASDAQ:ZLTQ), Solta Medical Inc (NASDAQ:SLTM), Hansen Medical, Inc. (NASDAQ:HNSN), RTI Biologics Inc. (NASDAQ:RTIX), and Cryolife Inc (NYSE:CRY). This group of stocks belong to the medical appliances & equipment industry and their market caps are similar to CUTR’s market cap.

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