Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Profire Energy, Inc. (PFIE): Smart Money Not Seeing Much to be Excited About

Page 1 of 2

It was a rough third quarter for many hedge funds, which were naturally unable to overcome the big dip in the broad market, as the S&P 500 fell by about 7% during the quarter. The Russell 2000, composed of smaller companies, performed even worse, trailing the S&P by about 14 percentage points between June 25 and October 30, as investors fled less-known quantities for safe havens. This was the case with hedge funds, who we heard were pulling money from the market amid the volatility, which included money from small-cap stocks, which they invest in at a higher rate than other investors. This action contributed to the greater decline in these stocks during the tumultuous period. We will study how this market volatility affected their sentiment towards Profire Energy, Inc. (NASDAQ:PFIE) during the quarter below.

Hedge fund interest in Profire Energy, Inc. (NASDAQ:PFIE) shares was flat during the last quarter. This is usually a negative indicator. The stock was still held in the portfolios of 5 hedgies in our database by the end of the quarter, during which shares of PFIE fell by about 14%. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as LeapFrog Enterprises, Inc. (NYSE:LF), Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP), and SFX Entertainment Inc (NASDAQ:SFXE) to gather more data points.

Follow Profire Energy Inc (NASDAQ:PFIE)
Trade (NASDAQ:PFIE) Now!

If you’d ask most traders, hedge funds are perceived as unimportant, outdated financial tools of the past. While there are more than 8,000 funds trading today, we hone in on the leaders of this group, approximately 700 funds. It is estimated that this group of investors have their hands on the lion’s share of the hedge fund industry’s total capital, and by keeping track of their best equity investments, Insider Monkey has spotted several investment strategies that have historically surpassed the market. Insider Monkey’s small-cap hedge fund strategy outrun the S&P 500 index by 12 percentage points annually for a decade in their back tests.

Keeping this in mind, let’s view the latest action surrounding Profire Energy, Inc. (NASDAQ:PFIE).

How are hedge funds trading Profire Energy, Inc. (NASDAQ:PFIE)?

At Q3’s end, a total of 5 of the hedge funds tracked by Insider Monkey held long positions in this stock, unchanged from one quarter earlier. With hedgies’ sentiment swirling, there exists an “upper tier” of notable hedge fund managers who were boosting their holdings meaningfully (or had already accumulated large positions).

According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Royce & Associates, managed by Chuck Royce, holds the largest position in Profire Energy, Inc. (NASDAQ:PFIE). Royce & Associates has a $1.8 million position in the stock, comprising less than 0.1% of its 13F portfolio. The second-largest stake is held by Intrepid Capital Management, managed by Mark Travis, which holds a $0.5 million position; the fund has 0.2% of its 13F portfolio invested in the stock. Remaining hedge funds and institutional investors that hold long positions consist of Andy Redleaf’s Whitebox Advisors, Israel Englander’s Millennium Management, and Ken Griffin’s Citadel Investment Group.

Page 1 of 2

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...
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 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!