Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Do Hedge Funds Love IntelliPharmaCeutics International Inc. (I)?

In addition, there was a specific group of money managers who sold off their full holdings last quarter. At the top of the heap, Mark Weissman, Adam Cohen and David Coleto’s Caspian Capital Partners dumped the largest stake of the “upper crust” of funds watched by Insider Monkey, valued at an estimated $4.1 million in stock, and Marc Majzner’s Clearline Capital was right behind this move, as the fund cut about $2.2 million worth. These moves are interesting, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).

Let’s also examine hedge fund activity in other stocks similar to Intelsat SA (NYSE:I). We will take a look at Atrion Corporation (NASDAQ:ATRI), McGrath RentCorp (NASDAQ:MGRC), DHT Holdings Inc (NYSE:DHT), and On Deck Capital Inc (NYSE:ONDK). This group of stocks’ market values are similar to I’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
ATRI 8 31883 1
MGRC 6 12760 -3
DHT 30 266279 -3
ONDK 8 169987 -3

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $120 million, compared to $49 million in I’s case. DHT Holdings Inc (NYSE:DHT) is the most popular stock in this table. On the other hand, McGrath RentCorp (NASDAQ:MGRC) is the least popular one with only 6 bullish hedge fund positions. Intelsat SA (NYSE:I) is not the least popular stock in this group, but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard DHT might be a better candidate to consider a long position.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.