Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Luxottica Group SpA (ADR) (LUX): Insiders Aren’t Crazy About It

Luxottica Group SpA (ADR) (NYSE:LUX) was in 6 hedge funds’ portfolio at the end of December. LUX has experienced a decrease in hedge fund sentiment lately. There were 7 hedge funds in our database with LUX holdings at the end of the previous quarter.

Luxottica Group SpA (ADR) (NYSE:LUX)

In the financial world, there are a multitude of methods market participants can use to analyze Mr. Market. A couple of the most under-the-radar are hedge fund and insider trading activity. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the best fund managers can trounce the broader indices by a very impressive margin (see just how much).

Equally as beneficial, positive insider trading sentiment is another way to parse down the world of equities. As the old adage goes: there are a number of stimuli for a bullish insider to sell shares of his or her company, but just one, very clear reason why they would initiate a purchase. Several empirical studies have demonstrated the market-beating potential of this method if “monkeys” understand what to do (learn more here).

Keeping this in mind, it’s important to take a gander at the recent action surrounding Luxottica Group SpA (ADR) (NYSE:LUX).

How have hedgies been trading Luxottica Group SpA (ADR) (NYSE:LUX)?

At the end of the fourth quarter, a total of 6 of the hedge funds we track were long in this stock, a change of -14% from one quarter earlier. With hedge funds’ sentiment swirling, there exists a few notable hedge fund managers who were upping their holdings substantially.

Of the funds we track, Fisher Asset Management, managed by Ken Fisher, holds the most valuable position in Luxottica Group SpA (ADR) (NYSE:LUX). Fisher Asset Management has a $67.4 million position in the stock, comprising 0.2% of its 13F portfolio. Coming in second is Peter Rathjens, Bruce Clarke and John Campbell of Arrowstreet Capital, with a $2.5 million position; less than 0.1%% of its 13F portfolio is allocated to the stock. Remaining hedge funds that are bullish include Robert B. Gillam’s McKinley Capital Management, Steven Cohen’s SAC Capital Advisors and David Costen Haley’s HBK Investments.

Due to the fact that Luxottica Group SpA (ADR) (NYSE:LUX) has experienced bearish sentiment from the entirety of the hedge funds we track, it’s easy to see that there was a specific group of money managers that decided to sell off their entire stakes last quarter. It’s worth mentioning that Israel Englander’s Millennium Management dropped the largest stake of the “upper crust” of funds we watch, comprising an estimated $0.7 million in stock., and Louis Navellier of Navellier & Associates was right behind this move, as the fund said goodbye to about $0.3 million worth. These moves are interesting, as aggregate hedge fund interest fell by 1 funds last quarter.

Insider trading activity in Luxottica Group SpA (ADR) (NYSE:LUX)

Bullish insider trading is particularly usable when the company in focus has seen transactions within the past half-year. Over the latest half-year time frame, Luxottica Group SpA (ADR) (NYSE:LUX) has experienced zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).

Let’s also review hedge fund and insider activity in other stocks similar to Luxottica Group SpA (ADR) (NYSE:LUX). These stocks are Charles & Colvard, Ltd. (NASDAQ:CTHR), Zale Corporation (NYSE:ZLC), Blue Nile Inc (NASDAQ:NILE), Signet Jewelers Ltd. (NYSE:SIG), and Tiffany & Co. (NYSE:TIF). This group of stocks are in the jewelry stores industry and their market caps are closest to LUX’s market cap.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading...