Lexmark International Inc (NYSE:LXK): Are Hedge Funds Right About This Stock?

Lexmark International Inc (NYSE:LXK) was in 18 hedge funds’ portfolio at the end of December. LXK has experienced a decrease in activity from the world’s largest hedge funds lately. There were 19 hedge funds in our database with LXK holdings at the end of the previous quarter.

Lexmark International Inc (NYSE:LXK)

In today’s marketplace, there are dozens of metrics market participants can use to monitor stocks. A pair of the most underrated are hedge fund and insider trading movement. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the elite investment managers can outpace the broader indices by a significant amount (see just how much).

Equally as beneficial, bullish insider trading activity is a second way to break down the marketplace. Obviously, there are plenty of stimuli for an insider to drop shares of his or her company, but just one, very clear reason why they would behave bullishly. Various empirical studies have demonstrated the valuable potential of this strategy if investors know what to do (learn more here).

Keeping this in mind, it’s important to take a gander at the latest action regarding Lexmark International Inc (NYSE:LXK).

How have hedgies been trading Lexmark International Inc (NYSE:LXK)?

In preparation for this year, a total of 18 of the hedge funds we track were bullish in this stock, a change of -5% from one quarter earlier. With hedge funds’ capital changing hands, there exists a select group of noteworthy hedge fund managers who were boosting their stakes considerably.

According to our comprehensive database, David Cohen and Harold Levy’s Iridian Asset Management had the most valuable position in Lexmark International Inc (NYSE:LXK), worth close to $80 million, accounting for 1.3% of its total 13F portfolio. The second largest stake is held by First Eagle Investment Management, managed by Jean-Marie Eveillard, which held a $20 million position; 0.4% of its 13F portfolio is allocated to the company. Other hedgies that hold long positions include Martin Whitman’s Third Avenue Management, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital and Cliff Asness’s AQR Capital Management.

Because Lexmark International Inc (NYSE:LXK) has witnessed falling interest from the entirety of the hedge funds we track, it’s safe to say that there was a specific group of money managers that elected to cut their positions entirely last quarter. Intriguingly, David Harding’s Winton Capital Management said goodbye to the biggest stake of the 450+ funds we key on, valued at about $7 million in stock.. Dmitry Balyasny’s fund, Balyasny Asset Management, also sold off its stock, about $6 million worth. These bearish behaviors are intriguing to say the least, as total hedge fund interest dropped by 1 funds last quarter.

What have insiders been doing with Lexmark International Inc (NYSE:LXK)?

Insider buying is at its handiest when the company in question has experienced transactions within the past half-year. Over the latest half-year time frame, Lexmark International Inc (NYSE:LXK) has experienced 1 unique insiders buying, and 8 insider sales (see the details of insider trades here).

With the results shown by Insider Monkey’s tactics, retail investors must always pay attention to hedge fund and insider trading activity, and Lexmark International Inc (NYSE:LXK) is no exception.

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

Insider Monkey’s small-cap strategy returned 29.2% between September 2012 and February 2013 versus 8.7% for the S&P 500 index. Try it now by clicking the link above.

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