Haemonetics Corporation (NYSE:HAE) was in 12 hedge funds’ portfolio at the end of December. HAE has experienced an increase in activity from the world’s largest hedge funds of late. There were 11 hedge funds in our database with HAE holdings at the end of the previous quarter.
In the financial world, there are many metrics shareholders can use to monitor Mr. Market. Two of the most useful are hedge fund and insider trading interest. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the best fund managers can outperform the broader indices by a healthy amount (see just how much).
Just as important, optimistic insider trading sentiment is a second way to parse down the investments you’re interested in. Obviously, there are lots of incentives for a bullish insider to cut shares of his or her company, but only one, very clear reason why they would behave bullishly. Many academic studies have demonstrated the market-beating potential of this method if piggybackers know where to look (learn more here).
With all of this in mind, let’s take a peek at the recent action encompassing Haemonetics Corporation (NYSE:HAE).
Hedge fund activity in Haemonetics Corporation (NYSE:HAE)
At the end of the fourth quarter, a total of 12 of the hedge funds we track were long in this stock, a change of 9% from the third quarter. With hedge funds’ sentiment swirling, there exists a select group of noteworthy hedge fund managers who were boosting their holdings significantly.
When looking at the hedgies we track, Fisher Asset Management, managed by Ken Fisher, holds the biggest position in Haemonetics Corporation (NYSE:HAE). Fisher Asset Management has a $5 million position in the stock, comprising 0% of its 13F portfolio. On Fisher Asset Management’s heels is Point State Capital, managed by Sean Cullinan, which held a $4 million position; 0.1% of its 13F portfolio is allocated to the company. Some other hedgies with similar optimism include Drew Cupps’s Cupps Capital Management, Israel Englander’s Millennium Management and Martin Whitman’s Third Avenue Management.
As industrywide interest jumped, specific money managers have been driving this bullishness. Point State Capital, managed by Sean Cullinan, established the biggest position in Haemonetics Corporation (NYSE:HAE). Point State Capital had 4 million invested in the company at the end of the quarter. Drew Cupps’s Cupps Capital Management also made a $4 million investment in the stock during the quarter. The other funds with new positions in the stock are Cliff Asness’s AQR Capital Management and Ken Griffin’s Citadel Investment Group.
How are insiders trading Haemonetics Corporation (NYSE:HAE)?
Insider trading activity, especially when it’s bullish, is at its handiest when the company in focus has seen transactions within the past half-year. Over the latest six-month time period, Haemonetics Corporation (NYSE:HAE) has experienced 4 unique insiders buying, and 11 insider sales (see the details of insider trades here).
With the results demonstrated by the aforementioned research, retail investors must always keep an eye on hedge fund and insider trading sentiment, and Haemonetics Corporation (NYSE:HAE) shareholders fit into this picture quite nicely.
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