Is iRobot Corporation (NASDAQ:IRBT) a good investment?
In the financial world, there are many metrics market participants can use to watch stocks. A duo of the most useful are hedge fund and insider trading activity. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the elite fund managers can outclass the broader indices by a very impressive amount (see just how much).
Equally as necessary, bullish insider trading sentiment is a second way to look at the stock market universe. Obviously, there are a number of stimuli for a corporate insider to sell shares of his or her company, but just one, very obvious reason why they would initiate a purchase. Several academic studies have demonstrated the impressive potential of this tactic if “monkeys” know what to do (learn more here).
Now that that’s out of the way, it’s important to study the latest info surrounding iRobot Corporation (NASDAQ:IRBT).
How have hedgies been trading iRobot Corporation (NASDAQ:IRBT)?
In preparation for the third quarter, a total of 7 of the hedge funds we track held long positions in this stock, a change of 0% from one quarter earlier. With the smart money’s positions undergoing their usual ebb and flow, there exists an “upper tier” of notable hedge fund managers who were increasing their stakes meaningfully.
When using filings from the hedgies we track, Royce & Associates, managed by Chuck Royce, holds the biggest position in iRobot Corporation (NASDAQ:IRBT). Royce & Associates has a $15.6 million position in the stock, comprising less than 0.1%% of its 13F portfolio. Sitting at the No. 2 spot is Wilmot B. Harkey and Daniel Mack of Nantahala Capital Management, with a $8.2 million position; the fund has 1.9% of its 13F portfolio invested in the stock. Other peers that are bullish include Wilmot B. Harkey and Daniel Mack’s Nantahala Capital Management, and John Overdeck and David Siegel’s Two Sigma Advisors.
How are insiders trading iRobot Corporation (NASDAQ:IRBT)?
Insider buying is particularly usable when the company in question has seen transactions within the past 180 days. Over the latest 180-day time frame, iRobot Corporation (NASDAQ:IRBT) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).
Using the results demonstrated by our tactics, average investors must always keep one eye on hedge fund and insider trading sentiment, and iRobot Corporation (NASDAQ:IRBT) is an important part of this process.