OSI Systems, Inc. (NASDAQ:OSIS) was in 13 hedge funds’ portfolio at the end of the first quarter of 2013. OSIS has seen a decrease in activity from the world’s largest hedge funds in recent months. There were 19 hedge funds in our database with OSIS positions at the end of the previous quarter.
In the financial world, there are tons of indicators market participants can use to watch Mr. Market. A duo of the most under-the-radar are hedge fund and insider trading movement. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the best money managers can outpace their index-focused peers by a very impressive margin (see just how much).
Just as integral, bullish insider trading sentiment is a second way to break down the world of equities. Obviously, there are a number of stimuli for an upper level exec to cut shares of his or her company, but just one, very obvious reason why they would initiate a purchase. Many academic studies have demonstrated the useful potential of this strategy if you know where to look (learn more here).
Keeping this in mind, we’re going to take a glance at the latest action encompassing OSI Systems, Inc. (NASDAQ:OSIS).
How have hedgies been trading OSI Systems, Inc. (NASDAQ:OSIS)?
At the end of the first quarter, a total of 13 of the hedge funds we track were long in this stock, a change of -32% from the first quarter. With the smart money’s capital changing hands, there exists a few key hedge fund managers who were increasing their stakes considerably.
According to our comprehensive database, Tremblant Capital, managed by Brett Barakett, holds the most valuable position in OSI Systems, Inc. (NASDAQ:OSIS). Tremblant Capital has a $38.2 million position in the stock, comprising 1.8% of its 13F portfolio. Coming in second is Steven Cohen of SAC Capital Advisors, with a $22 million position; 0.1% of its 13F portfolio is allocated to the company. Some other peers that are bullish include Malcolm Fairbairn’s Ascend Capital, Glenn Russell Dubin’s Highbridge Capital Management and Ken Fisher’s Fisher Asset Management.
Since OSI Systems, Inc. (NASDAQ:OSIS) has experienced a declination in interest from the entirety of the hedge funds we track, it’s safe to say that there is a sect of hedgies who were dropping their full holdings at the end of the first quarter. It’s worth mentioning that Donald Chiboucis’s Columbus Circle Investors dumped the largest position of the 450+ funds we monitor, totaling an estimated $24 million in stock.. Jim Simons’s fund, Renaissance Technologies, also sold off its stock, about $8.5 million worth. These bearish behaviors are important to note, as aggregate hedge fund interest was cut by 6 funds at the end of the first quarter.
What have insiders been doing with OSI Systems, Inc. (NASDAQ:OSIS)?
Insider buying is most useful when the company in question has experienced transactions within the past six months. Over the last half-year time frame, OSI Systems, Inc. (NASDAQ:OSIS) has experienced zero unique insiders buying, and 1 insider sales (see the details of insider trades here).
Let’s go over hedge fund and insider activity in other stocks similar to OSI Systems, Inc. (NASDAQ:OSIS). These stocks are Altra Holdings, Inc. (NASDAQ:AIMC), General Cable Corporation (NYSE:BGC), Franklin Electric Co. (NASDAQ:FELE), GrafTech International Ltd (NYSE:GTI), and Littelfuse, Inc. (NASDAQ:LFUS). This group of stocks belong to the industrial electrical equipment industry and their market caps match OSIS’s market cap.