Questcor Pharmaceuticals Inc (NASDAQ:QCOR) has seen a decrease in hedge fund sentiment lately.
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Now, we’re going to take a look at the recent action regarding Questcor Pharmaceuticals Inc (NASDAQ:QCOR).
What does the smart money think about Questcor Pharmaceuticals Inc (NASDAQ:QCOR)?
Heading into 2013, a total of 21 of the hedge funds we track were long in this stock, a change of -34% from one quarter earlier. With hedge funds’ sentiment swirling, there exists a select group of key hedge fund managers who were upping their holdings considerably.
According to our comprehensive database, James E. Flynn’s Deerfield Management had the largest position in Questcor Pharmaceuticals Inc (NASDAQ:QCOR), worth close to $132 million, accounting for 7.3% of its total 13F portfolio. On Deerfield Management’s heels is William Leland Edwards of Palo Alto Investors, with a $59 million position; 0.1% of its 13F portfolio is allocated to the stock. Remaining hedgies that hold long positions include Bernard Horn’s Polaris Capital Management, David Gallo’s Valinor Management LLC and Ken Griffin’s Citadel Investment Group.
Because Questcor Pharmaceuticals Inc (NASDAQ:QCOR) has experienced bearish sentiment from the aggregate hedge fund industry, it’s easy to see that there lies a certain “tier” of hedge funds who were dropping their positions entirely at the end of the year. Interestingly, Tiger Global Management LLC cut the biggest position of the “upper crust” of funds we monitor, totaling an estimated $45 million in stock., and Jacob Gottlieb of Visium Asset Management was right behind this move, as the fund dropped about $23 million worth. These transactions are important to note, as aggregate hedge fund interest was cut by 11 funds at the end of the year.
What do corporate executives and insiders think about Questcor Pharmaceuticals Inc (NASDAQ:QCOR)?
Insider buying is best served when the primary stock in question has experienced transactions within the past six months. Over the latest six-month time frame, Questcor Pharmaceuticals Inc (NASDAQ:QCOR) has experienced 2 unique insiders purchasing, and 1 insider sales (see the details of insider trades here).
With the results shown by our tactics, retail investors must always keep an eye on hedge fund and insider trading activity, and Questcor Pharmaceuticals Inc (NASDAQ:QCOR) is an important part of this process.
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