At Insider Monkey we follow around 730 of the best-performing investors and even though many of them lost money in the last several months, the history teaches us that over the long-run they still manage to beat the market, which is why it can be profitable for us to imitate their activity. Of course, even the best money managers can sometimes get it wrong, but following some of their picks gives us a better chance to outperform the crowd than picking a random stock and this is where our research comes in.
Hedge fund interest in eLong, Inc. (ADR) (NASDAQ:LONG) shares was flat at the end of last quarter. This is usually a negative indicator. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as MINDBODY Inc (NASDAQ:MB), Performance Sports Group Ltd (NYSE:PSG), and Patrick Industries, Inc. (NASDAQ:PATK) to gather more data points.
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With all of this in mind, let’s take a peek at the recent action regarding eLong, Inc. (ADR) (NASDAQ:LONG).
Hedge fund activity in eLong, Inc. (ADR) (NASDAQ:LONG)
Heading into Q4, a total of 4 of the hedge funds tracked by Insider Monkey were bullish on this stock, unchanged from the previous quarter. With hedge funds’ sentiment swirling, there exists a few key hedge fund managers who were boosting their holdings considerably (or already accumulated large positions).
When looking at the institutional investors followed by Insider Monkey, Parag Vora’s HG Vora Capital Management has the number one position in eLong, Inc. (ADR) (NASDAQ:LONG), worth close to $28.9 million, comprising 3.5% of its total 13F portfolio. On HG Vora Capital Management’s heels is QVT Financial, led by Daniel Gold, holding a $8.4 million position; the fund has 0.3% of its 13F portfolio invested in the stock. Other hedge funds and institutional investors with similar optimism encompass Brad Gerstner’s Altimeter Capital Management, and Michael R. Weisberg’s Crestwood Capital Management.