This just in, Paul Glazer’s Glazer Capital reported a purchase of 1,073,584 shares of Palomar Medical Technologies Inc (NASDAQ:PMTI) in a 13G filing with the Securities and Exchange Commission. In total the holding in Palomar Medical Technologies is currently valued at about $14.5 million at the current price of the company’s stock. This is a new position in Glazer Capital’s 13F portfolio and it represents 5.4% of Palomar.
Looking at the entire picture, 13Gs indicate the intentions of passive fund managers. These “hedgies” aren’t exposed to an equal amount of chatter as their activist peers, but passive managers should be watched as well.
In other words, it’s very extremely important for retail investors to pay attention to Paul Glazer’s latest investment into Palomar Medical Technologies Inc (NASDAQ:PMTI).
While investors watch a variety of equity-based metrics, there’s one that is particularly important: consensus sentiment of the world’s best money managers.
Empirical studies have demonstrated that “monkeys” who copy specific hedge fund activity can out-jump, their index-focused peers by an average of 18 percentage points per year. (Learn more details about our strategy here)
Looking in at Palomar Medical Technologies Inc (NASDAQ:PMTI), we can see that … other hedge funds were bullish on Company in the latest round of 13F filings. In particular, Jim Simons’ Renaissance Technologies, Gamco Investors managed by Mario Gabelli, and Cliff Asness’ Aqr Capital Management were in Palomar Medical Technologies, which is some of the best company anyone can be in the same vicinity as. As follows, Renaissance Technologies owns 181,800 shares, worth about $2.5 million, Gamco Investors holds a $3.4 million possition, which contains 253,900 shares. And the last but not the least, Cliff Asness’ Aqr Capital Management has a holding which contains 207,697 shares, valued at $2.8 million.