Gigamon Inc (GIMO): Are Hedge Funds Right About This Stock?

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Gigamon Inc (NYSE:GIMO) was in 21 hedge funds’ portfolios at the end of September. GIMO shareholders have witnessed a decrease in activity from the world’s largest hedge funds of late. There were 22 hedge funds in our database with GIMO positions at the end of the previous quarter. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as TeleTech Holdings, Inc. (NASDAQ:TTEC), Rovi Corporation (NASDAQ:ROVI), and CNOOC Limited (ADR) (NYSE:CEO) to gather more data points.

Follow Gigamon Inc. (NYSE:GIMO)

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What does the smart money think about Gigamon Inc (NYSE:GIMO)?

At Q3’s end, a total of 21 of the hedge funds tracked by Insider Monkey were bullish on this stock, a fall of 5% from one quarter earlier, the third-straight quarter that hedge fund positions have trended down. With the smart money’s sentiment swirling, there exists an “upper tier” of noteworthy hedge fund managers who were increasing their stakes meaningfully (or already accumulated large positions).
GIMO
According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Alex Sacerdote’s Whale Rock Capital Management has the biggest position in Gigamon Inc (NYSE:GIMO), worth close to $47.8 million, amounting to 3.1% of its total 13F portfolio. The second most bullish fund manager is Renaissance Technologies, led by Jim Simons, holding a $43.3 million position. Other hedge funds and institutional investors that are bullish consist of Richard Driehaus’ Driehaus Capital, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital and Israel Englander’s Millennium Management.

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