Should TTM Technologies, Inc. (NASDAQ:TTMI) investors track the following data?
In the 21st century investor’s toolkit, there are tons of methods investors can use to monitor Mr. Market. A duo of the most innovative are hedge fund and insider trading sentiment. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the elite money managers can trounce their index-focused peers by a superb margin (see just how much).
Equally as necessary, optimistic insider trading activity is a second way to look at the world of equities. Obviously, there are lots of incentives for a corporate insider to drop shares of his or her company, but just one, very obvious reason why they would behave bullishly. Several empirical studies have demonstrated the valuable potential of this tactic if investors know what to do (learn more here).
What’s more, let’s study the recent info for TTM Technologies, Inc. (NASDAQ:TTMI).
What does the smart money think about TTM Technologies, Inc. (NASDAQ:TTMI)?
Heading into Q3, a total of 14 of the hedge funds we track were long in this stock, a change of 0% from one quarter earlier. With hedgies’ positions undergoing their usual ebb and flow, there exists a select group of noteworthy hedge fund managers who were upping their stakes considerably.
When using filings from the hedgies we track, Royce & Associates, managed by Chuck Royce, holds the most valuable position in TTM Technologies, Inc. (NASDAQ:TTMI). Royce & Associates has a $35 million position in the stock, comprising 0.1% of its 13F portfolio. On Royce & Associates’s heels is Citadel Investment Group, managed by Ken Griffin, which held a $7 million position; less than 0.1%% of its 13F portfolio is allocated to the company. Some other peers with similar optimism include David Dreman’s Dreman Value Management, Jim Simons’s Renaissance Technologies and Glenn Russell Dubin’s Highbridge Capital Management.
As TTM Technologies, Inc. (NASDAQ:TTMI) has experienced bearish sentiment from the smart money’s best and brightest, it’s safe to say that there exists a select few fund managers that elected to cut their entire stakes last quarter. Interestingly, Mike Vranos’s Ellington dropped the largest investment of all the hedgies we monitor, worth an estimated $0.1 million in stock, and Paul Tudor Jones of Tudor Investment Corp was right behind this move, as the fund dropped about $0.1 million worth. These moves are important to note, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).
How have insiders been trading TTM Technologies, Inc. (NASDAQ:TTMI)?
Insider buying made by high-level executives is most useful when the company in question has experienced transactions within the past 180 days. Over the latest 180-day time frame, TTM Technologies, Inc. (NASDAQ:TTMI) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).
We’ll also review the relationship between both of these indicators in other stocks similar to TTM Technologies, Inc. (NASDAQ:TTMI). These stocks are Raven Industries, Inc. (NASDAQ:RAVN), Multi-Fineline Electronix, Inc. (NASDAQ:MFLX), Benchmark Electronics, Inc. (NYSE:BHE), Plexus Corp. (NASDAQ:PLXS), and Park Electrochemical Corp. (NYSE:PKE). This group of stocks are in the printed circuit boards industry and their market caps are closest to TTMI’s market cap.