AutoNavi Holdings Ltd (ADR) (NASDAQ:AMAP) was in 7 hedge funds’ portfolio at the end of December. AMAP investors should pay attention to a decrease in hedge fund sentiment of late. There were 8 hedge funds in our database with AMAP holdings at the end of the previous quarter.
At the moment, there are many gauges market participants can use to track the equity markets. A pair of the most under-the-radar 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 hedge fund managers can outclass the S&P 500 by a very impressive margin (see just how much).
Equally as integral, positive insider trading activity is a second way to break down the world of equities. Just as you’d expect, there are a variety of motivations for a bullish insider to drop shares of his or her company, but just one, very clear reason why they would buy. Several academic studies have demonstrated the useful potential of this strategy if piggybackers understand what to do (learn more here).
Consequently, let’s take a look at the latest action encompassing AutoNavi Holdings Ltd (ADR) (NASDAQ:AMAP).
What does the smart money think about AutoNavi Holdings Ltd (ADR) (NASDAQ:AMAP)?
At the end of the fourth quarter, a total of 7 of the hedge funds we track were long in this stock, a change of -13% from the previous quarter. With hedgies’ capital changing hands, there exists a few key hedge fund managers who were upping their holdings meaningfully.
When looking at the hedgies we track, Renaissance Technologies, managed by Jim Simons, holds the largest position in AutoNavi Holdings Ltd (ADR) (NASDAQ:AMAP). Renaissance Technologies has a $1.8 million position in the stock, comprising less than 0.1%% of its 13F portfolio. On Renaissance Technologies’s heels is Israel Englander of Millennium Management, with a $0.9 million position; less than 0.1%% of its 13F portfolio is allocated to the company. Remaining hedgies that are bullish include Ian P. Murray’s Lanexa Global Management, Panayotis æTakisÆ Sparaggis’s Alkeon Capital Management and D. E. Shaw’s D E Shaw.
Because AutoNavi Holdings Ltd (ADR) (NASDAQ:AMAP) has experienced falling interest from the aggregate hedge fund industry, it’s safe to say that there were a few hedgies that decided to sell off their positions entirely last quarter. Interestingly, Julian Robertson’s Tiger Management sold off the biggest position of the “upper crust” of funds we track, totaling an estimated $6 million in stock.. Charles Clough’s fund, Clough Capital Partners, also sold off its stock, about $1.3 million worth. These moves are important to note, as aggregate hedge fund interest was cut by 1 funds last quarter.
How have insiders been trading AutoNavi Holdings Ltd (ADR) (NASDAQ:AMAP)?
Bullish insider trading is most useful when the primary stock in question has experienced transactions within the past half-year. Over the latest half-year time frame, AutoNavi Holdings Ltd (ADR) (NASDAQ:AMAP) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).
Let’s check out hedge fund and insider activity in other stocks similar to AutoNavi Holdings Ltd (ADR) (NASDAQ:AMAP). These stocks are Proofpoint Inc (NASDAQ:PFPT), E2open Inc (NASDAQ:EOPN), Accelrys, Inc. (NASDAQ:ACCL), SciQuest, Inc. (NASDAQ:SQI), and Bazaarvoice Inc (NASDAQ:BV). This group of stocks belong to the application software industry and their market caps are closest to AMAP’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Proofpoint Inc (NASDAQ:PFPT) | 6 | 0 | 6 |
| E2open Inc (NASDAQ:EOPN) | 3 | 0 | 7 |
| Accelrys, Inc. (NASDAQ:ACCL) | 6 | 0 | 5 |
| SciQuest, Inc. (NASDAQ:SQI) | 7 | 0 | 2 |
| Bazaarvoice Inc (NASDAQ:BV) | 4 | 0 | 5 |
With the results exhibited by Insider Monkey’s tactics, retail investors must always monitor hedge fund and insider trading activity, and AutoNavi Holdings Ltd (ADR) (NASDAQ:AMAP) shareholders fit into this picture quite nicely.
