Hedge Funds Are Selling Harte-Hanks, Inc. (HHS)

Harte-Hanks, Inc. (NYSE:HHS) was in 14 hedge funds’ portfolio at the end of the first quarter of 2013. HHS investors should be aware of a decrease in enthusiasm from smart money lately. There were 14 hedge funds in our database with HHS holdings at the end of the previous quarter.

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Keeping this in mind, let’s take a glance at the recent action regarding Harte-Hanks, Inc. (NYSE:HHS).

What have hedge funds been doing with Harte-Hanks, Inc. (NYSE:HHS)?

In preparation for this quarter, a total of 14 of the hedge funds we track were long in this stock, a change of 0% from the previous quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists a few key hedge fund managers who were increasing their stakes substantially.

Of the funds we track, Pzena Investment Management, managed by Richard S. Pzena, holds the biggest position in Harte-Hanks, Inc. (NYSE:HHS). Pzena Investment Management has a $31.4 million position in the stock, comprising 0.2% of its 13F portfolio. Sitting at the No. 2 spot is Ken Griffin of Citadel Investment Group, with a $2.9 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Other hedge funds with similar optimism include Joel Greenblatt’s Gotham Asset Management, John Overdeck and David Siegel’s Two Sigma Advisors and D. E. Shaw’s D E Shaw.

Judging by the fact that Harte-Hanks, Inc. (NYSE:HHS) has faced bearish sentiment from the aggregate hedge fund industry, it’s safe to say that there was a specific group of fund managers who sold off their entire stakes last quarter. At the top of the heap, Paul Tudor Jones’s Tudor Investment Corp dumped the biggest investment of the 450+ funds we key on, totaling an estimated $0.3 million in stock., and Charles Davidson of Wexford Capital was right behind this move, as the fund dumped about $0.2 million worth. These bearish behaviors are important to note, as total hedge fund interest stayed the same (this is a bearish signal in our experience).

How are insiders trading Harte-Hanks, Inc. (NYSE:HHS)?

Bullish insider trading is best served when the company we’re looking at has seen transactions within the past six months. Over the latest six-month time period, Harte-Hanks, Inc. (NYSE:HHS) has seen zero unique insiders purchasing, and 1 insider sales (see the details of insider trades here).

Let’s also take a look at hedge fund and insider activity in other stocks similar to Harte-Hanks, Inc. (NYSE:HHS). These stocks are Valassis Communications, Inc. (NYSE:VCI), National CineMedia, Inc. (NASDAQ:NCMI), Constant Contact Inc (NASDAQ:CTCT), MDC Partners Inc. (USA) (NASDAQ:MDCA), and Millennial Media, Inc. (NYSE:MM). All of these stocks are in the marketing services industry and their market caps match HHS’s market cap.