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Itron, Inc. (NASDAQ:ITRI): Are Hedge Funds Right About This Stock?

Itron, Inc. (NASDAQ:ITRI) was in 15 hedge funds’ portfolio at the end of December. ITRI investors should pay attention to an increase in hedge fund interest of late. There were 12 hedge funds in our database with ITRI holdings at the end of the previous quarter.

Itron, Inc. (NASDAQ:ITRI)

In the 21st century investor’s toolkit, there are a multitude of methods investors can use to monitor publicly traded companies. Some of the best are hedge fund and insider trading interest. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the elite investment managers can beat their index-focused peers by a very impressive amount (see just how much).

Equally as key, positive insider trading activity is another way to break down the investments you’re interested in. Obviously, there are a variety of stimuli for an insider to downsize shares of his or her company, but only one, very obvious reason why they would behave bullishly. Many academic studies have demonstrated the valuable potential of this tactic if shareholders know what to do (learn more here).

With these “truths” under our belt, it’s important to take a peek at the recent action regarding Itron, Inc. (NASDAQ:ITRI).

What does the smart money think about Itron, Inc. (NASDAQ:ITRI)?

In preparation for this year, a total of 15 of the hedge funds we track held long positions in this stock, a change of 25% from the third quarter. With hedgies’ capital changing hands, there exists a select group of key hedge fund managers who were upping their stakes substantially.

When looking at the hedgies we track, David Dreman’s Dreman Value Management had the biggest position in Itron, Inc. (NASDAQ:ITRI), worth close to $14 million, accounting for 0.4% of its total 13F portfolio. The second largest stake is held by Cliff Asness of AQR Capital Management, with a $13 million position; 0.4% of its 13F portfolio is allocated to the stock. Some other hedge funds with similar optimism include John I. Dickerson’s Summit Global Management, Boaz Weinstein’s Saba Capital and Mario Gabelli’s GAMCO Investors.

As aggregate interest increased, key hedge funds were breaking ground themselves. Dreman Value Management, managed by David Dreman, assembled the largest position in Itron, Inc. (NASDAQ:ITRI). Dreman Value Management had 14 million invested in the company at the end of the quarter. Boaz Weinstein’s Saba Capital also initiated a $6 million position during the quarter. The following funds were also among the new ITRI investors: Glenn Russell Dubin’s Highbridge Capital Management and John Murphy’s Alydar Capital.

What have insiders been doing with Itron, Inc. (NASDAQ:ITRI)?

Insider purchases made by high-level executives is particularly usable when the primary stock in question has seen transactions within the past 180 days. Over the latest 180-day time period, Itron, Inc. (NASDAQ:ITRI) has experienced zero unique insiders purchasing, and 1 insider sales (see the details of insider trades here).

With the returns shown by our time-tested strategies, retail investors should always monitor hedge fund and insider trading sentiment, and Itron, Inc. (NASDAQ:ITRI) is an important part of this process.

Click here to learn more about Insider Monkey’s Hedge Fund Newsletter

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