IPG Photonics Corporation (IPGP) Soars Over 13% On Solid Q2 Results, Q3 Outlook: Hedge Funds Wary

What have hedge funds been doing with IPG Photonics Corporation (NASDAQ:IPGP)?

According to hedge fund experts at Insider Monkey, Chuck Royce‘s Royce & Associates had the biggest position in IPG Photonics Corporation (NASDAQ:IPGP), holding 694,706 shares worth close to $64.4 million, amounting to 0.2% of its total 13F portfolio. On Royce & Associates’s heels is Odey Asset Management Group, managed by Crispin Odey, which held 378,471 shares for a $35.1 million position; the fund had 2% of its 13F portfolio invested in the stock. Other members of the smart money with similar optimism included Ken Fisher’s Fisher Asset Management, Matthew A. Weatherbie’s Weatherbie Capital, and David Kowitz and Sheldon Kasowitz’s Indus Capital.

John Croghan and Richard Fradin‘s Rail-Splitter Capital Management cut the largest stake of all the hedgies followed by Insider Monkey, dumping 134,369 shares worth close to $10.07 million. Joel Greenblatt’s fund, Gotham Asset Management, also dropped its 59,750 shares, worth about $4.48 million.

Due to the strong bearish sentiment of the world’s foremost money managers on IPG Photonics Corporation (NASDAQ:IPGP), we cannot recommend a long position in the stock now even in light of the improved results, as we feel they are already baked into the stock now.

Disclosure: None