What’s a smart Inteliquent (NASDAQ:IQNT) investor to do?
In the financial world, there are dozens of metrics shareholders can use to monitor their holdings. A couple of the most underrated are hedge fund and insider trading sentiment. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the elite investment managers can trounce the S&P 500 by a very impressive amount (see just how much).
Just as key, positive insider trading activity is another way to analyze the world of equities. There are many reasons for a bullish insider to get rid of shares of his or her company, but just one, very simple reason why they would behave bullishly. Several academic studies have demonstrated the market-beating potential of this strategy if investors know where to look (learn more here).
What’s more, let’s study the newest info for Inteliquent (NASDAQ:IQNT).
What have hedge funds been doing with Inteliquent (NASDAQ:IQNT)?
In preparation for the third quarter, a total of 9 of the hedge funds we track were bullish in this stock, a change of -10% from one quarter earlier. With the smart money’s positions undergoing their usual ebb and flow, there exists a few key hedge fund managers who were increasing their stakes substantially.
When using filings from the hedgies we track, Renaissance Technologies, managed by Jim Simons, holds the most valuable position in Inteliquent (NASDAQ:IQNT). Renaissance Technologies has a $4.2 million position in the stock, comprising less than 0.1%% of its 13F portfolio. Coming in second is Highbridge Capital Management, managed by Glenn Russell Dubin, which held a $1.3 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Some other hedgies that hold long positions include Ken Griffin’s Citadel Investment Group, Gregory Fraser, Rudolph Kluiber, and Timothy Krochuk’s GRT Capital Partners and Israel Englander’s Millennium Management.
Judging by the fact that Inteliquent (NASDAQ:IQNT) has witnessed a fall in interest from upper-tier hedge fund managers, it’s safe to say that there lies a certain “tier” of money managers who sold off their entire stakes in Q1. Interestingly, Brett Hendrickson’s Nokomis Capital cut the biggest investment of all the hedgies we track, totaling an estimated $6.7 million in stock. Joel Greenblatt’s fund, Gotham Asset Management, also sold off its stock, about $0.7 million worth. These bearish behaviors are interesting, as total hedge fund interest was cut by 1 funds in Q1.
Insider trading activity in Inteliquent (NASDAQ:IQNT)
Bullish insider trading is particularly usable when the primary stock in question has seen transactions within the past 180 days. Over the last half-year time frame, Inteliquent (NASDAQ:IQNT) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).
Using the results demonstrated by Insider Monkey’s strategies, regular investors should always track hedge fund and insider trading activity, and Inteliquent (NASDAQ:IQNT) is an important part of this process.