Symmetry Medical Inc. (NYSE:SMA) investors should be aware of an increase in activity from the world’s largest hedge funds recently.
At the moment, there are dozens of methods investors can use to monitor stocks. A pair 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 outpace the market by a superb margin (see just how much).
Just as key, positive insider trading activity is a second way to break down the marketplace. There are lots of incentives for an insider to get rid of shares of his or her company, but just one, very simple reason why they would buy. Various empirical studies have demonstrated the valuable potential of this method if investors understand where to look (learn more here).
With all of this in mind, it’s important to take a look at the recent action regarding Symmetry Medical Inc. (NYSE:SMA).
What have hedge funds been doing with Symmetry Medical Inc. (NYSE:SMA)?
Heading into Q2, a total of 14 of the hedge funds we track were bullish in this stock, a change of 56% from one quarter earlier. With hedge funds’ positions undergoing their usual ebb and flow, there exists a few key hedge fund managers who were increasing their stakes substantially.
According to our comprehensive database, Ariel Investments, managed by John W. Rogers, holds the biggest position in Symmetry Medical Inc. (NYSE:SMA). Ariel Investments has a $49.2 million position in the stock, comprising 0.8% of its 13F portfolio. Sitting at the No. 2 spot is SG Capital Management, managed by Ken Grossman and Glen Schneider, which held a $4.9 million position; 2.4% of its 13F portfolio is allocated to the company. Remaining hedgies that are bullish include Joel Greenblatt’s Gotham Asset Management, John Overdeck and David Siegel’s Two Sigma Advisors and Robert B. Gillam’s McKinley Capital Management.
As industrywide interest jumped, some big names have jumped into Symmetry Medical Inc. (NYSE:SMA) headfirst. McKinley Capital Management, managed by Robert B. Gillam, initiated the most outsized position in Symmetry Medical Inc. (NYSE:SMA). McKinley Capital Management had 1.3 million invested in the company at the end of the quarter. Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital also initiated a $0.6 million position during the quarter. The other funds with brand new SMA positions are Ken Griffin’s Citadel Investment Group, Glenn Russell Dubin’s Highbridge Capital Management, and Mike Vranos’s Ellington.
What have insiders been doing with Symmetry Medical Inc. (NYSE:SMA)?
Insider purchases made by high-level executives is most useful when the company in question has seen transactions within the past 180 days. Over the latest half-year time frame, Symmetry Medical Inc. (NYSE:SMA) has seen zero unique insiders buying, and 2 insider sales (see the details of insider trades here).
Let’s check out hedge fund and insider activity in other stocks similar to Symmetry Medical Inc. (NYSE:SMA). These stocks are Cardiovascular Systems Inc (NASDAQ:CSII), Natus Medical Inc (NASDAQ:BABY), GenMark Diagnostics, Inc (NASDAQ:GNMK), Invacare Corporation (NYSE:IVC), and Cynosure, Inc. (NASDAQ:CYNO). This group of stocks belong to the medical appliances & equipment industry and their market caps are similar to SMA’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Cardiovascular Systems Inc (NASDAQ:CSII) | 12 | 1 | 4 |
| Natus Medical Inc (NASDAQ:BABY) | 16 | 1 | 5 |
| GenMark Diagnostics, Inc (NASDAQ:GNMK) | 9 | 0 | 6 |
| Invacare Corporation (NYSE:IVC) | 16 | 8 | 0 |
| Cynosure, Inc. (NASDAQ:CYNO) | 16 | 0 | 2 |
With the results demonstrated by our tactics, everyday investors should always keep an eye on hedge fund and insider trading sentiment, and Symmetry Medical Inc. (NYSE:SMA) is no exception.
