Logitech International SA (USA) (NASDAQ:LOGI) has seen an increase in support from the world’s most elite money managers recently.
In today’s marketplace, there are a multitude of metrics market participants can use to track Mr. Market. A pair 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 best picks of the top money managers can outperform the S&P 500 by a very impressive margin (see just how much).
Equally as integral, optimistic insider trading activity is another way to parse down the stock market universe. As the old adage goes: there are a variety of motivations for a bullish insider to sell shares of his or her company, but just one, very obvious reason why they would initiate a purchase. Plenty of academic studies have demonstrated the impressive potential of this method if shareholders know where to look (learn more here).
With these “truths” under our belt, it’s important to take a gander at the key action regarding Logitech International SA (USA) (NASDAQ:LOGI).
How have hedgies been trading Logitech International SA (USA) (NASDAQ:LOGI)?
In preparation for this year, a total of 11 of the hedge funds we track were long in this stock, a change of 22% from the third quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists an “upper tier” of notable hedge fund managers who were boosting their stakes significantly.
According to our comprehensive database, Chuck Royce’s Royce & Associates had the biggest position in Logitech International SA (USA) (NASDAQ:LOGI), worth close to $10 million, comprising 0% of its total 13F portfolio. On Royce & Associates’s heels is Odey Asset Management Group, managed by Crispin Odey, which held a $9 million position; the fund has 0.5% of its 13F portfolio invested in the stock. Remaining hedge funds that are bullish include Philippe Laffont’s Coatue Management, Joseph A. Jolson’s Harvest Capital Strategies and Ken Griffin’s Citadel Investment Group.
With a general bullishness amongst the heavyweights, specific money managers were breaking ground themselves. CR Intrinsic Investors, managed by SAC Subsidiary, established the biggest position in Logitech International SA (USA) (NASDAQ:LOGI). CR Intrinsic Investors had 1 million invested in the company at the end of the quarter. Daniel S. Och’s OZ Management also made a $1 million investment in the stock during the quarter. The other funds with new positions in the stock are Israel Englander’s Millennium Management, Daniel S. Och’s OZ Management, and John Overdeck and David Siegel’s Two Sigma Advisors.
What do corporate executives and insiders think about Logitech International SA (USA) (NASDAQ:LOGI)?
Insider trading activity, especially when it’s bullish, is most useful when the company we’re looking at has experienced transactions within the past 180 days. Over the latest half-year time period, Logitech International SA (USA) (NASDAQ:LOGI) has seen zero unique insiders buying, and 1 insider sales (see the details of insider trades here).
Let’s also review hedge fund and insider activity in other stocks similar to Logitech International SA (USA) (NASDAQ:LOGI). These stocks are Electronics For Imaging, Inc. (NASDAQ:EFII), Synaptics, Incorporated (NASDAQ:SYNA), Universal Display Corporation (NASDAQ:PANL), Nice Systems Ltd (ADR) (NASDAQ:NICE), and Intermec Inc. (NYSE:IN). This group of stocks are in the computer peripherals industry and their market caps are similar to LOGI’s market cap.
|Company Name||# of Hedge Funds||# of Insiders Buying||# of Insiders Selling|
|Electronics For Imaging, Inc. (NASDAQ:EFII)||12||0||3|
|Synaptics, Incorporated (NASDAQ:SYNA)||9||0||2|
|Universal Display Corporation (NASDAQ:PANL)||13||1||1|
|Nice Systems Ltd (ADR) (NASDAQ:NICE)||14||0||0|
|Intermec Inc. (NYSE:IN)||12||0||0|
With the returns shown by our time-tested strategies, retail investors should always watch hedge fund and insider trading sentiment, and Logitech International SA (USA) (NASDAQ:LOGI) is an important part of this process.
Insider Monkey’s small-cap strategy returned 37% between September 2012 and March 2013 versus 12.9% for the S&P 500 index. Try it now by clicking the link above.