Is SHFL entertainment Inc (NASDAQ:SHFL) a marvelous investment today? Prominent investors are betting on the stock. The number of bullish hedge fund positions improved by 1 lately.
In the financial world, there are many metrics market participants can use to watch Mr. Market. Two of the most underrated are hedge fund and insider trading sentiment. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the top fund managers can beat their index-focused peers by a solid amount (see just how much).
Just as important, positive insider trading sentiment is another way to break down the financial markets. Just as you’d expect, there are a number of reasons for a bullish 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 market-beating potential of this strategy if you know where to look (learn more here).
Consequently, let’s take a gander at the key action surrounding SHFL entertainment Inc (NASDAQ:SHFL).
How have hedgies been trading SHFL entertainment Inc (NASDAQ:SHFL)?
Heading into Q2, a total of 14 of the hedge funds we track held long positions in this stock, a change of 8% from one quarter earlier. With hedgies’ positions undergoing their usual ebb and flow, there exists a few key hedge fund managers who were increasing their holdings substantially.
According to our comprehensive database, Bridger Management, managed by Roberto Mignone, holds the biggest position in SHFL entertainment Inc (NASDAQ:SHFL). Bridger Management has a $45.6 million position in the stock, comprising 3.2% of its 13F portfolio. The second largest stake is held by Joel Ramin of 12 West Capital Management, with a $35.8 million position; the fund has 6.1% of its 13F portfolio invested in the stock. Remaining peers that are bullish include Jeffrey Jon Berney’s TriOaks Capital Management, Ken Fisher’s Fisher Asset Management and Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital.
With a general bullishness amongst the heavyweights, some big names have jumped into SHFL entertainment Inc (NASDAQ:SHFL) headfirst. Prescott Group Capital Management, managed by Phil Frohlich, assembled the most valuable position in SHFL entertainment Inc (NASDAQ:SHFL). Prescott Group Capital Management had 2 million invested in the company at the end of the quarter. Jeffrey Vinik’s Vinik Asset Management also initiated a $0.5 million position during the quarter.
How have insiders been trading SHFL entertainment Inc (NASDAQ:SHFL)?
Bullish insider trading is most useful when the company in question has experienced transactions within the past half-year. Over the last six-month time frame, SHFL entertainment Inc (NASDAQ:SHFL) has seen zero unique insiders purchasing, and 3 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 SHFL entertainment Inc (NASDAQ:SHFL). These stocks are A.T. Cross Company (NASDAQ:ATX), Brunswick Corporation (NYSE:BC), Steinway Musical Instruments Inc (NYSE:LVB), Manchester United PLC (NYSE:MANU), and Movado Group, Inc (NYSE:MOV). This group of stocks belong to the recreational goods, other industry and their market caps are closest to SHFL’s market cap.