NQ Mobile Inc (ADR) (NYSE:NQ) has experienced an increase in enthusiasm from smart money lately.
To the average investor, there are many gauges shareholders can use to watch publicly traded companies. A duo of the best 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 hedge fund managers can outclass the S&P 500 by a very impressive margin (see just how much).
Equally as key, bullish insider trading activity is a second way to break down the investments you’re interested in. Obviously, there are a number of motivations for an insider to drop shares of his or her company, but just one, very obvious reason why they would buy. Many academic studies have demonstrated the impressive 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 gander at the recent action encompassing NQ Mobile Inc (ADR) (NYSE:NQ).
What does the smart money think about NQ Mobile Inc (ADR) (NYSE:NQ)?
In preparation for this quarter, a total of 14 of the hedge funds we track held long positions in this stock, a change of 100% from the previous quarter. With hedgies’ capital changing hands, there exists a few noteworthy hedge fund managers who were increasing their holdings meaningfully.
When looking at the hedgies we track, P.A.W. CAPITAL PARTNERS, managed by Peter A. Wright, holds the largest position in NQ Mobile Inc (ADR) (NYSE:NQ). P.A.W. CAPITAL PARTNERS has a $9.2 million position in the stock, comprising 6.7% of its 13F portfolio. Sitting at the No. 2 spot is Alkeon Capital Management, managed by Panayotis Takis Sparaggis, which held a $2.7 million position; 0.1% of its 13F portfolio is allocated to the stock. Some other peers with similar optimism include D. E. Shaw’s D E Shaw, SAC Subsidiary’s CR Intrinsic Investors and Jeffrey Vinik’s Vinik Asset Management.
As one would reasonably expect, key hedge funds were leading the bulls’ herd. CR Intrinsic Investors, managed by SAC Subsidiary, established the most outsized position in NQ Mobile Inc (ADR) (NYSE:NQ). CR Intrinsic Investors had 2.2 million invested in the company at the end of the quarter. Jeffrey Vinik’s Vinik Asset Management also made a $1.9 million investment in the stock during the quarter. The other funds with new positions in the stock are Peter A. Wright’s P.A.W. CAPITAL PARTNERS, Mike Vranos’s Ellington, and Richard Driehaus’s Driehaus Capital.
How have insiders been trading NQ Mobile Inc (ADR) (NYSE:NQ)?
Insider buying is best served when the company we’re looking at has experienced transactions within the past half-year. Over the latest six-month time frame, NQ Mobile Inc (ADR) (NYSE:NQ) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).
With the returns exhibited by Insider Monkey’s studies, retail investors must always keep an eye on hedge fund and insider trading activity, and NQ Mobile Inc (ADR) (NYSE:NQ) is an important part of this process.