RTI Biologics Inc. (NASDAQ:RTIX) has seen a decrease in support from the world’s most elite money managers recently.
To the average investor, there are tons of methods shareholders can use to track the equity markets. Some of the most useful are hedge fund and insider trading interest. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the top money managers can outperform the broader indices by a very impressive amount (see just how much).
Equally as important, bullish insider trading activity is another way to break down the investments you’re interested in. Just as you’d expect, there are plenty of stimuli for a corporate insider to cut shares of his or her company, but just one, very simple reason why they would behave bullishly. Various empirical studies have demonstrated the valuable potential of this strategy if “monkeys” know what to do (learn more here).
With these “truths” under our belt, we’re going to take a peek at the key action encompassing RTI Biologics Inc. (NASDAQ:RTIX).
Hedge fund activity in RTI Biologics Inc. (NASDAQ:RTIX)
At Q1’s end, a total of 12 of the hedge funds we track were bullish in this stock, a change of -14% from the previous quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists a select group of key hedge fund managers who were boosting their holdings significantly.
When looking at the hedgies we track, Chuck Royce’s Royce & Associates had the biggest position in RTI Biologics Inc. (NASDAQ:RTIX), worth close to $3.7 million, comprising less than 0.1%% of its total 13F portfolio. Sitting at the No. 2 spot is Renaissance Technologies, managed by Jim Simons, which held a $2.3 million position; less than 0.1%% of its 13F portfolio is allocated to the stock. Remaining hedgies that are bullish include Jeffrey Vinik’s Vinik Asset Management, Robert B. Gillam’s McKinley Capital Management and D. E. Shaw’s D E Shaw.
Due to the fact that RTI Biologics Inc. (NASDAQ:RTIX) has faced a declination in interest from the smart money, logic holds that there was a specific group of money managers who were dropping their positions entirely last quarter. Intriguingly, Mark Broach’s Manatuck Hill Partners cut the biggest stake of the 450+ funds we track, comprising close to $2.1 million in stock.. Peter Algert and Kevin Coldiron’s fund, Algert Coldiron Investors, also cut its stock, about $1.4 million worth. These moves are important to note, as total hedge fund interest fell by 2 funds last quarter.
What have insiders been doing with RTI Biologics Inc. (NASDAQ:RTIX)?
Insider trading activity, especially when it’s bullish, is most useful when the primary stock in question has seen transactions within the past 180 days. Over the latest six-month time period, RTI Biologics Inc. (NASDAQ:RTIX) has seen zero unique insiders purchasing, and 1 insider sales (see the details of insider trades here).
Let’s check out hedge fund and insider activity in other stocks similar to RTI Biologics Inc. (NASDAQ:RTIX). These stocks are Hansen Medical, Inc. (NASDAQ:HNSN), Cryolife Inc (NYSE:CRY), Exactech, Inc. (NASDAQ:EXAC), Palomar Medical Technologies Inc (NASDAQ:PMTI), and Cutera, Inc. (NASDAQ:CUTR). This group of stocks belong to the medical appliances & equipment industry and their market caps are similar to RTIX’s market cap.