51job, Inc. (ADR) (NASDAQ:JOBS) has seen an increase in enthusiasm from smart money recently.
To the average investor, there are plenty of metrics market participants can use to watch Mr. Market. Some of the most underrated are hedge fund and insider trading activity. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the elite fund managers can outclass their index-focused peers by a superb amount (see just how much).
Equally as key, bullish insider trading activity is another way to break down the world of equities. As the old adage goes: there are many motivations for an executive to get rid of shares of his or her company, but only one, very obvious reason why they would initiate a purchase. Several empirical studies have demonstrated the impressive potential of this method if “monkeys” understand what to do (learn more here).
Consequently, we’re going to take a look at the key action regarding 51job, Inc. (ADR) (NASDAQ:JOBS).
Hedge fund activity in 51job, Inc. (ADR) (NASDAQ:JOBS)
Heading into Q2, a total of 9 of the hedge funds we track held long positions in this stock, a change of 13% from the first quarter. With the smart money’s sentiment swirling, there exists a few noteworthy hedge fund managers who were increasing their holdings considerably.
According to our comprehensive database, Platinum Asset Management, managed by Kerr Neilson, holds the most valuable position in 51job, Inc. (ADR) (NASDAQ:JOBS). Platinum Asset Management has a $42.4 million position in the stock, comprising 0.9% of its 13F portfolio. Coming in second is Bloom Tree Partners, managed by Alok Agrawal, which held a $16.1 million position; the fund has 4.5% of its 13F portfolio invested in the stock. Other peers that hold long positions include Julian Robertson’s Tiger Management, Robert Joseph Caruso’s Select Equity Group and Steven Cohen’s SAC Capital Advisors.
With a general bullishness amongst the heavyweights, some big names were breaking ground themselves. Select Equity Group, managed by Robert Joseph Caruso, initiated the largest position in 51job, Inc. (ADR) (NASDAQ:JOBS). Select Equity Group had 4.6 million invested in the company at the end of the quarter. D. E. Shaw’s D E Shaw also made a $1.4 million investment in the stock during the quarter. The only other fund with a new position in the stock is Bruce Kovner’s Caxton Associates LP.
What do corporate executives and insiders think about 51job, Inc. (ADR) (NASDAQ:JOBS)?
Insider purchases made by high-level executives is particularly usable when the primary stock in question has seen transactions within the past six months. Over the last 180-day time frame, 51job, Inc. (ADR) (NASDAQ:JOBS) has experienced zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
Let’s also review hedge fund and insider activity in other stocks similar to 51job, Inc. (ADR) (NASDAQ:JOBS). These stocks are Trueblue Inc (NYSE:TBI), Korn/Ferry International (NYSE:KFY), Team Health Holdings LLC (NYSE:TMH), , and On Assignment, Inc. (NYSE:ASGN). This group of stocks belong to the staffing & outsourcing services industry and their market caps are closest to JOBS’s market cap.