Juniper Networks, Inc. (JNPR) Posts Strong Q2 Earnings, But Were They Strong Enough To Buy It?

How have hedgies been trading Juniper Networks, Inc. (NYSE:JNPR)?

According to Insider Monkey’s hedge fund database, Paul Singer‘s Elliott Management had the largest position in Juniper Networks, Inc. (NYSE:JNPR), having invested 10.9% of its 13F portfolio in the stock. Elliott Management held around 39.2 million shares of the company valued at $886 million by the end of March. By some distance, coming in second place is Michael Lowenstein of Kensico Capital, with around 8.6 million shares valued at $89.4 million; the fund has 1.8% of its 13F portfolio invested in the stock. Some other members of the smart money with similar optimism consist of Clint Carlson‘s Carlson Capital, Malcolm Fairbairn’s Ascend Capital, and Howard Guberman’s Gruss Asset Management.

As one would reasonably expect, some big names were leading the bulls’ herd. Highbridge Capital Management, led by Glenn Russell Dubin, initiated the largest position in Juniper Networks, Inc. (NYSE:JNPR), having purchased around 1.43 million shares of the company during the first trimester. Scott Lawrence Swid’s SLS Management also bought around 487,000 shares of the company. The other funds with new positions in the stock are Dmitry Balyasny’s Balyasny Asset Management, Andre F. Perold’s HighVista Strategies, and Peter Muller’s PDT Partners.

Hedge funds were right in not pulling a lot of money out of this stock as the company’s stock enjoyed a strong second quarter and the company posted better-than-expected second quarter results along with strong guidance for the third quarter. Hedge fund managers like activist Paul Singer opted to invest a large sum in the company and are being rewarded for sticking with the stock. Because of Singer’s involvement in the stock and its improved performance, we recommend a long position in it.

Disclosure: None