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Should You Avoid Tangoe Inc (TNGO)?

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Should Tangoe Inc (NASDAQ:TNGO) investors track the following data?

Now, according to many investors, hedge funds are assumed to be bloated, outdated financial tools of an era lost to time. Although there are more than 8,000 hedge funds trading in present day, this site aim at the top tier of this group, close to 525 funds. It is widely held that this group controls the lion’s share of the hedge fund industry’s total assets, and by tracking their best stock picks, we’ve figured out a few investment strategies that have historically outpaced the broader indices. Our small-cap hedge fund strategy outperformed the S&P 500 index by 18 percentage points a year for a decade in our back tests, and since we’ve began to sharing our picks with our subscribers at the end of August 2012, we have topped the S&P 500 index by 33 percentage points in 11 months (explore the details and some picks here).

Equally as crucial, optimistic insider trading sentiment is another way to look at the world of equities. As the old adage goes: there are plenty of incentives for an executive to downsize shares of his or her company, but just one, very clear reason why they would initiate a purchase. Several empirical studies have demonstrated the useful potential of this strategy if shareholders understand where to look (learn more here).

Tangoe Inc

Furthermore, we’re going to discuss the latest info for Tangoe Inc (NASDAQ:TNGO).

What does the smart money think about Tangoe Inc (NASDAQ:TNGO)?

At Q2’s end, a total of 9 of the hedge funds we track held long positions in this stock, a change of -10% from one quarter earlier. With hedgies’ capital changing hands, there exists a few notable hedge fund managers who were boosting their holdings substantially.

Out of the hedge funds we follow, Joe DiMenna’s ZWEIG DIMENNA PARTNERS had the biggest position in Tangoe Inc (NASDAQ:TNGO), worth close to $16.5 million, accounting for 0.7% of its total 13F portfolio. Sitting at the No. 2 spot is Mark N. Diker of Diker Management, with a $3.1 million position; the fund has 1% of its 13F portfolio invested in the stock. Other hedge funds with similar optimism include Brad Gerstner’s Altimeter Capital Management, Steve Shapiro’s Intrepid Capital Management Inc DE and Richard C. Patton’s Courage Capital.

Due to the fact Tangoe Inc (NASDAQ:TNGO) has faced a fall in interest from the smart money’s best and brightest, it’s safe to say that there is a sect of hedge funds who were dropping their entire stakes heading into Q2. Interestingly, Israel Englander’s Millennium Management said goodbye to the largest position of all the hedgies we monitor, worth close to $1.8 million in stock, and Jason F. Harris of Kendall Square Capital was right behind this move, as the fund said goodbye to about $1.1 million worth. These moves are interesting, as aggregate hedge fund interest dropped by 1 funds heading into Q2.

What have insiders been doing with Tangoe Inc (NASDAQ:TNGO)?

Insider buying made by high-level executives is most useful when the company we’re looking at has experienced transactions within the past six months. Over the latest half-year time period, Tangoe Inc (NASDAQ:TNGO) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).

We’ll go over the relationship between both of these indicators in other stocks similar to Tangoe Inc (NASDAQ:TNGO). These stocks are CSG Systems International, Inc. (NASDAQ:CSGS), Ebix Inc (NASDAQ:EBIX), Descartes Systems Group (USA) (NASDAQ:DSGX), Perficient, Inc. (NASDAQ:PRFT), and Servicesource International Inc (NASDAQ:SREV). This group of stocks are in the business software & services industry and their market caps are closest to TNGO’s market cap.

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