Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Here is What Hedge Funds Think About Celestica Inc. (USA) (CLS)

What’s a smart Celestica Inc. (USA) (NYSE:CLS) investor to do?

In the 21st century investor’s toolkit, there are many gauges investors can use to monitor the equity markets. Two of the best are hedge fund and insider trading movement. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the top hedge fund managers can trounce the S&P 500 by a solid margin (see just how much).

Just as key, positive insider trading activity is another way to look at the marketplace. Just as you’d expect, there are plenty of reasons for an executive to get rid of shares of his or her company, but only one, very obvious reason why they would initiate a purchase. Various empirical studies have demonstrated the valuable potential of this tactic if “monkeys” understand what to do (learn more here).

Furthermore, it’s important to discuss the recent info surrounding Celestica Inc. (USA) (NYSE:CLS).

Hedge fund activity in Celestica Inc. (USA) (NYSE:CLS)

In preparation for the third quarter, a total of 6 of the hedge funds we track held long positions in this stock, a change of -40% from the previous quarter. With the smart money’s capital changing hands, there exists a select group of key hedge fund managers who were increasing their holdings significantly.

Celestica Inc. (USA) (NYSE:CLS)Out of the hedge funds we follow, Daniel Bubis’s Tetrem Capital Management had the biggest position in Celestica Inc. (USA) (NYSE:CLS), worth close to $9.5 million, comprising 0.3% of its total 13F portfolio. The second largest stake is held by Dreman Value Management, managed by David Dreman, which held a $8.5 million position; the fund has 0.3% of its 13F portfolio invested in the stock. Other hedge funds that hold long positions include Peter Rathjens Bruce Clarke and John Campbell’s Arrowstreet Capital, John Thiessen’s Vertex One Asset Management and John Overdeck and David Siegel’s Two Sigma Advisors.

Due to the fact Celestica Inc. (USA) (NYSE:CLS) has witnessed dropping sentiment from the smart money’s best and brightest, it’s safe to say that there is a sect of hedgies that slashed their full holdings at the end of the second quarter. Intriguingly, Neil Chriss’s Hutchin Hill Capital cut the biggest investment of all the hedgies we watch, totaling about $0.5 million in stock, and Joel Greenblatt of Gotham Asset Management was right behind this move, as the fund cut about $0.4 million worth. These moves are important to note, as aggregate hedge fund interest was cut by 4 funds at the end of the second quarter.

What have insiders been doing with Celestica Inc. (USA) (NYSE:CLS)?

Insider buying is best served when the company in focus has seen transactions within the past half-year. Over the last 180-day time frame, Celestica Inc. (USA) (NYSE:CLS) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).

We’ll check out the relationship between both of these indicators in other stocks similar to Celestica Inc. (USA) (NYSE:CLS). These stocks are Park Electrochemical Corp. (NYSE:PKE), TTM Technologies, Inc. (NASDAQ:TTMI), Plexus Corp. (NASDAQ:PLXS), Benchmark Electronics, Inc. (NYSE:BHE), and Raven Industries, Inc. (NASDAQ:RAVN). This group of stocks are the members of the printed circuit boards industry and their market caps are similar to CLS’s market cap.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.