Hedge Funds Are Dumping Himax Technologies, Inc. (ADR) (HIMX)

Seeing as Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) has witnessed declining sentiment from hedge fund managers, it’s easy to see that there was a specific group of hedge funds that slashed their positions entirely heading into Q4. It’s worth mentioning that Rob Romero’s Connective Capital Management dropped the biggest stake among the funds monitored by Insider Monkey, totaling an estimated $0.9 million in stock. Israel Englander’s fund, Millennium Management, also dumped its stock, about $0.8 million worth. These transactions are intriguing to say the least, as aggregate hedge fund interest dropped by 5 funds heading into Q4.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) but similarly valued. We will take a look at CoreSite Realty Corp (NYSE:COR), Dreamworks Animation Skg Inc (NASDAQ:DWA), Penn National Gaming, Inc (NASDAQ:PENN), and Hawaiian Holdings, Inc. (NASDAQ:HA). This group of stocks’ market caps match HIMX’s market cap.

As you can see these stocks had an average of 19 hedge funds with bullish positions and the average amount invested in these stocks was $311 million. That figure was $86 million in HIMX’s case. Penn National Gaming, Inc (NASDAQ:PENN) is the most popular stock in this table. On the other hand Dreamworks Animation Skg Inc (NASDAQ:DWA) is the least popular one with only 9 bullish hedge fund positions. Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) registers a hedge fund interest below average and the funds we track amassed $86 million worth of stock at the end of September. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard PENN might be a better candidate to consider a long position.