This Metric Says You Are Smart to Sell Symantec Corporation (NASDAQ:SYMC)

Symantec Corporation (NASDAQ:SYMC) has seen a decrease in hedge fund interest lately.

In the 21st century investor’s toolkit, there are dozens of metrics market participants can use to monitor the equity markets. A couple of the most useful are hedge fund and insider trading activity. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the best money managers can beat the S&P 500 by a very impressive amount (see just how much).

Just as beneficial, bullish insider trading sentiment is another way to parse down the marketplace. Just as you’d expect, there are plenty of motivations for a corporate insider to drop shares of his or her company, but only one, very clear reason why they would behave bullishly. Plenty of empirical studies have demonstrated the impressive potential of this method if investors understand what to do (learn more here).

With these “truths” under our belt, we’re going to take a look at the latest action encompassing Symantec Corporation (NASDAQ:SYMC).

What have hedge funds been doing with Symantec Corporation (NASDAQ:SYMC)?

At year’s end, a total of 28 of the hedge funds we track were bullish in this stock, a change of -10% from the third quarter. With the smart money’s sentiment swirling, there exists a few noteworthy hedge fund managers who were boosting their stakes meaningfully.

Of the funds we track, Citadel Investment Group, managed by Ken Griffin, holds the largest position in Symantec Corporation (NASDAQ:SYMC). Citadel Investment Group has a $236 million position in the stock, comprising 0.4% of its 13F portfolio. The second largest stake is held by SAC Capital Advisors, managed by Steven Cohen, which held a $154 million position; the fund has 0.8% of its 13F portfolio invested in the stock. Other hedgies that are bullish include Dan Loeb’s Third Point, Peter Adam Hochfelder’s Brahman Capital and Cliff Asness’s AQR Capital Management.

Since Symantec Corporation (NASDAQ:SYMC) has witnessed bearish sentiment from the smart money, we can see that there is a sect of money managers that slashed their full holdings at the end of the year. Intriguingly, Robert Emil Zoellner’s Alpine Associates sold off the largest position of the “upper crust” of funds we watch, valued at an estimated $46 million in stock.. Anand Parekh’s fund, Alyeska Investment Group, also dumped its stock, about $14 million worth. These bearish behaviors are intriguing to say the least, as total hedge fund interest was cut by 3 funds at the end of the year.

What do corporate executives and insiders think about Symantec Corporation (NASDAQ:SYMC)?

Insider buying is at its handiest when the primary stock in question has experienced transactions within the past half-year. Over the last six-month time frame, Symantec Corporation (NASDAQ:SYMC) has experienced zero unique insiders purchasing, and 8 insider sales (see the details of insider trades here).

With the returns demonstrated by Insider Monkey’s time-tested strategies, retail investors must always pay attention to hedge fund and insider trading activity, and Symantec Corporation (NASDAQ:SYMC) applies perfectly to this mantra.

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.

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

Top 10 Highest Paying Jobs in the World

Most Expensive Day-Care in New York City

The 10 Cheapest Places to Retire Abroad

Top 10 Most Expensive Luxury Cars in the World – 2014

Killer Small Business Ideas

The 50 Best Personal Finance Blogs

Most Expensive Apartments in New York City

Bloodiest UFC Fights Ever Fought

Most Expensive Rum Brands in the World

Subscribe

Enter your email:

Delivered by FeedBurner

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 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!