Is Servicesource International Inc (NASDAQ:SREV) ready to rally soon? Prominent investors are turning bullish. The number of bullish hedge fund bets improved by 4 lately.
In the 21st century investor’s toolkit, there are tons of gauges investors can use to monitor publicly traded companies. A duo of the most useful are hedge fund and insider trading interest. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the best fund managers can outperform the S&P 500 by a significant amount (see just how much).
Equally as beneficial, positive insider trading sentiment is a second way to parse down the investments you’re interested in. There are a variety of motivations for a bullish insider to sell shares of his or her company, but just one, very simple reason why they would buy. Many empirical studies have demonstrated the market-beating potential of this strategy if shareholders understand what to do (learn more here).
With all of this in mind, we’re going to take a look at the key action encompassing Servicesource International Inc (NASDAQ:SREV).
What have hedge funds been doing with Servicesource International Inc (NASDAQ:SREV)?
At Q1’s end, a total of 11 of the hedge funds we track were long in this stock, a change of 57% from the previous quarter. With hedge funds’ capital changing hands, there exists an “upper tier” of key hedge fund managers who were boosting their stakes considerably.
When looking at the hedgies we track, Altai Capital, managed by Rishi Bajaj, Toby Symonds, and Steve Tesoriere, holds the largest position in Servicesource International Inc (NASDAQ:SREV). Altai Capital has a $26.9 million position in the stock, comprising 10.5% of its 13F portfolio. The second largest stake is held by Royce & Associates, managed by Chuck Royce, which held a $5.8 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Remaining peers that hold long positions include Jim Simons’s Renaissance Technologies, Mark N. Diker’s Diker Management and Phil Frohlich’s Prescott Group Capital Management.
As aggregate interest increased, specific money managers have jumped into Servicesource International Inc (NASDAQ:SREV) headfirst. Diker Management, managed by Mark N. Diker, initiated the most outsized position in Servicesource International Inc (NASDAQ:SREV). Diker Management had 1.9 million invested in the company at the end of the quarter. Mark Broach’s Manatuck Hill Partners also made a $0.7 million investment in the stock during the quarter. The following funds were also among the new SREV investors: Israel Englander’s Millennium Management, John Zaro’s Bourgeon Capital, and Mike Vranos’s Ellington.
How have insiders been trading Servicesource International Inc (NASDAQ:SREV)?
Insider purchases made by high-level executives is best served when the primary stock in question has seen transactions within the past half-year. Over the latest 180-day time period, Servicesource International Inc (NASDAQ:SREV) has experienced 1 unique insiders buying, and 7 insider sales (see the details of insider trades here).
With the results demonstrated by Insider Monkey’s research, everyday investors must always monitor hedge fund and insider trading sentiment, and Servicesource International Inc (NASDAQ:SREV) applies perfectly to this mantra.