Here is What Hedge Funds Think About Illumina, Inc. (ILMN)

Page 1 of 2

Illumina, Inc. (NASDAQ:ILMN) was in 28 hedge funds’ portfolio at the end of the first quarter of 2013. ILMN investors should be aware of a decrease in support from the world’s most elite money managers of late. There were 37 hedge funds in our database with ILMN holdings at the end of the previous quarter.

To most shareholders, hedge funds are perceived as slow, outdated investment tools of the past. While there are over 8000 funds trading today, we choose to focus on the elite of this club, about 450 funds. It is widely believed that this group oversees the majority of the smart money’s total asset base, and by keeping an eye on their highest performing picks, we have figured out a number of investment strategies that have historically beaten the S&P 500 index. Our small-cap hedge fund strategy outpaced 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 trumped the S&P 500 index by 23.3 percentage points in 8 months (check out a sample of our picks).

Illumina, Inc. (NASDAQ:ILMN)Just as beneficial, optimistic insider trading activity is another way to parse down the marketplace. Obviously, there are a variety of stimuli for an upper level exec to cut shares of his or her company, but just one, very simple reason why they would behave bullishly. Plenty of empirical studies have demonstrated the useful potential of this tactic if shareholders understand what to do (learn more here).

Now, it’s important to take a gander at the key action regarding Illumina, Inc. (NASDAQ:ILMN).

What have hedge funds been doing with Illumina, Inc. (NASDAQ:ILMN)?

At Q1′s end, a total of 28 of the hedge funds we track were bullish in this stock, a change of -24% from one quarter earlier. With hedge funds’ positions undergoing their usual ebb and flow, there exists a select group of notable hedge fund managers who were upping their stakes meaningfully.

Of the funds we track, Citadel Investment Group, managed by Ken Griffin, holds the biggest position in Illumina, Inc. (NASDAQ:ILMN). Citadel Investment Group has a $103.5 million position in the stock, comprising 0.2% of its 13F portfolio. Coming in second is Sectoral Asset Management, managed by Jerome Pfund and Michael Sjostrom, which held a $95.2 million position; 2.9% of its 13F portfolio is allocated to the company. Some other hedge funds with similar optimism include Samuel Isaly’s OrbiMed Advisors, Arthur B Cohen and Joseph Healey’s Healthcor Management LP and Jonathon Jacobson’s Highfields Capital Management.

Since Illumina, Inc. (NASDAQ:ILMN) has witnessed a declination in interest from the smart money, it’s safe to say that there lies a certain “tier” of fund managers who sold off their entire stakes last quarter. It’s worth mentioning that Dan Loeb’s Third Point said goodbye to the biggest investment of all the hedgies we track, comprising close to $83.4 million in stock.. Rob Citrone’s fund, Discovery Capital Management, also cut its stock, about $58.2 million worth. These transactions are intriguing to say the least, as total hedge fund interest dropped by 9 funds last quarter.

Insider trading activity in Illumina, Inc. (NASDAQ:ILMN)

Insider trading activity, especially when it’s bullish, is best served when the company in question has seen transactions within the past 180 days. Over the last half-year time frame, Illumina, Inc. (NASDAQ:ILMN) has seen zero unique insiders purchasing, and 11 insider sales (see the details of insider trades here).

Let’s also take a look at hedge fund and insider activity in other stocks similar to Illumina, Inc. (NASDAQ:ILMN). These stocks are Medivation Inc (NASDAQ:MDVN), Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX), Seattle Genetics, Inc. (NASDAQ:SGEN), BioMarin Pharmaceutical Inc. (NASDAQ:BMRN), and Onyx Pharmaceuticals, Inc. (NASDAQ:ONXX). This group of stocks are the members of the biotechnology industry and their market caps are similar to ILMN’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 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

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!