Is Plantronics, Inc. (PLT) A Good Stock To Buy?

Page 1 of 2

A whopping number of 13F filings filed with U.S. Securities and Exchange Commission has been processed by Insider Monkey so that individual investors can look at the overall hedge fund sentiment towards the stocks included in their watchlists. These freshly-submitted public filings disclose money managers’ equity positions as of the end of the three-month period that ended September 30, so let’s proceed with the discussion of the hedge fund sentiment on Plantronics, Inc. (NYSE:PLT).

As Plantronics’ stock lost 10% in the third quarter, it registered a slight decrease in interest from the funds we track. Nevertheless, the stock was included in 15 funds’ portfolios at the end of the third quarter. However, the level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity, but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as CACI International Inc (NYSE:CACI), QTS Realty Trust Inc (NYSE:QTS), and Endurance International Group Hldgs Inc (NASDAQ:EIGI) to gather more data points.

Follow Plantronics Inc (NYSE:POLY)

In the 21st century investor’s toolkit there are dozens of gauges market participants have at their disposal to analyze publicly traded companies. A duo of the less known gauges are hedge fund and insider trading indicators. Our experts have shown that, historically, those who follow the best picks of the elite hedge fund managers can trounce the S&P 500 by a solid amount (see the details here).

Keeping this in mind, let’s review the key action regarding Plantronics, Inc. (NYSE:PLT).

What does the smart money think about Plantronics, Inc. (NYSE:PLT)?

At the Q3’s end, a total of 15 of the hedge funds tracked by Insider Monkey were long this stock, a decline of 6% from the previous quarter. With hedge funds’ sentiment swirling, there exists an “upper tier” of key hedge fund managers who were increasing their stakes considerably (or already accumulated large positions).

According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Joel Greenblatt’s Gotham Asset Management has the number one position in Plantronics, Inc. (NYSE:PLT), worth close to $36.6 million, comprising 0.4% of its total 13F portfolio. Coming in second is Crosslink Capital, led by Seymour Sy Kaufman and Michael Stark, holding a $19.1 million position; the fund has 2.7% of its 13F portfolio invested in the stock. Some other hedge funds and institutional investors that are bullish contain Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, David Dreman’s Dreman Value Management, and Cliff Asness’ AQR Capital Management.

Page 1 of 2