Is Itron, Inc. (ITRI) Going to Burn These Hedge Funds?

Page 1 of 2

Itron, Inc. (NASDAQ:ITRI) was in 14 hedge funds’ portfolio at the end of March. ITRI shareholders have witnessed a decrease in activity from the world’s largest hedge funds in recent months. There were 17 hedge funds in our database with ITRI positions at the end of the previous quarter.

In the financial world, there are a multitude of metrics market participants can use to analyze Mr. Market. A duo of the best are hedge fund and insider trading sentiment. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the top money managers can outclass the S&P 500 by a solid amount (see just how much).

Itron, Inc. (NASDAQ:ITRI)Just as beneficial, positive insider trading activity is a second way to parse down the investments you’re interested in. Obviously, there are lots of stimuli for a corporate insider to get rid of shares of his or her company, but just one, very simple reason why they would buy. Many academic studies have demonstrated the impressive potential of this tactic if piggybackers know where to look (learn more here).

With these “truths” under our belt, we’re going to take a peek at the key action regarding Itron, Inc. (NASDAQ:ITRI).

How are hedge funds trading Itron, Inc. (NASDAQ:ITRI)?

Heading into Q2, a total of 14 of the hedge funds we track held long positions in this stock, a change of -18% from the previous quarter. With the smart money’s capital changing hands, there exists a few noteworthy hedge fund managers who were upping their holdings substantially.

Of the funds we track, Dreman Value Management, managed by David Dreman, holds the most valuable position in Itron, Inc. (NASDAQ:ITRI). Dreman Value Management has a $21.4 million position in the stock, comprising 0.6% of its 13F portfolio. The second largest stake is held by Cliff Asness of AQR Capital Management, with a $13.8 million position; 0.1% of its 13F portfolio is allocated to the stock. Other hedgies that are bullish include Boaz Weinstein’s Saba Capital, John I. Dickerson’s Summit Global Management and Mario Gabelli’s GAMCO Investors.

Judging by the fact that Itron, Inc. (NASDAQ:ITRI) has witnessed a declination in interest from the entirety of the hedge funds we track, it’s safe to say that there lies a certain “tier” of money managers that decided to sell off their entire stakes at the end of the first quarter. Interestingly, Ian Simm’s Impax Asset Management said goodbye to the largest position of all the hedgies we key on, totaling an estimated $34.9 million in stock., and Glenn Russell Dubin of Highbridge Capital Management was right behind this move, as the fund sold off about $2.3 million worth. These transactions are interesting, as total hedge fund interest fell by 3 funds at the end of the first quarter.

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

Bullish insider trading is at its handiest when the company in focus has experienced transactions within the past half-year. Over the latest six-month time period, Itron, Inc. (NASDAQ:ITRI) has experienced zero unique insiders purchasing, and 2 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 Itron, Inc. (NASDAQ:ITRI). These stocks are Coherent, Inc. (NASDAQ:COHR), Geospace Technologies Corp (NASDAQ:GEOS), Ixia (NASDAQ:XXIA), Curtiss-Wright Corp. (NYSE:CW), and Cognex Corporation (NASDAQ:CGNX). All of these stocks are in the scientific & technical instruments industry and their market caps match ITRI’s market cap.

Page 1 of 2
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 10 Largest Pharmaceutical Companies In the World

The 10 Most Expensive Android Apps

The 9 Most Expensive Designer Bags in the World

The 7 Most Expensive Real Estate in the World

The 10 Most Expensive eBay Items Ever Sold

The 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

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!