Velti Plc (NASDAQ:VELT) was in 8 hedge funds' portfolio at the end of the fourth quarter of 2012. VELT shareholders have witnessed a decrease in support from the world's most elite money managers of late. There were 8 hedge funds in our database with VELT positions at the end of the previous quarter.
To the average investor, there are a multitude of gauges market participants can use to monitor publicly traded companies. A couple of the most innovative are hedge fund and insider trading sentiment. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the top investment managers can beat the S&P 500 by a very impressive amount (see just how much).
Equally as important, optimistic insider trading sentiment is a second way to parse down the investments you're interested in. There are many reasons for a corporate insider to get rid of shares of his or her company, but only one, very simple reason why they would initiate a purchase. Plenty of empirical studies have demonstrated the impressive potential of this tactic if "monkeys" understand what to do (learn more here).
With all of this in mind, we're going to take a glance at the key action encompassing Velti Plc (NASDAQ:VELT).
At year's end, a total of 8 of the hedge funds we track were bullish in this stock, a change of 0% from the previous quarter. With the smart money's positions undergoing their usual ebb and flow, there exists a select group of key hedge fund managers who were upping their stakes substantially.
Of the funds we track, John A. Levin's Levin Capital Strategies had the most valuable position in Velti Plc (NASDAQ:VELT), worth close to $3.7 million, comprising 0.1% of its total 13F portfolio. The second largest stake is held by P.A.W. CAPITAL PARTNERS, managed by Peter A. Wright, which held a $1.9 million position; 1.5% of its 13F portfolio is allocated to the stock. Some other hedgies that are bullish include Joseph A. Jolson's Harvest Capital Strategies, and Richard Chilton's Chilton Investment Company.
Due to the fact that Velti Plc (NASDAQ:VELT) has faced falling interest from the entirety of the hedge funds we track, it's easy to see that there is a sect of money managers that decided to sell off their full holdings last quarter. It's worth mentioning that Steve Shapiro's Intrepid Capital Management Inc DE sold off the biggest position of the 450+ funds we watch, totaling about $1.8 million in stock.. Jim Simons's fund, Renaissance Technologies, also cut its stock, about $1.2 million worth. These moves are important to note, as total hedge fund interest stayed the same (this is a bearish signal in our experience).
Insider trading activity, especially when it's bullish, is at its handiest when the company in focus has experienced transactions within the past six months. Over the latest 180-day time frame, Velti Plc (NASDAQ:VELT) has experienced zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
Let's also review hedge fund and insider activity in other stocks similar to Velti Plc (NASDAQ:VELT). These stocks are Pactera Technology Intl Ltd (ADR) (NASDAQ:PACT), Official Payments Holdings Inc (NASDAQ:OPAY), Datawatch Corporation (NASDAQ:DWCH), Callidus Software Inc. (NASDAQ:CALD), and Perion Network Ltd (NASDAQ:PERI). This group of stocks are the members of the business software & services industry and their market caps match VELT's market cap.