Staples, Inc. (NASDAQ:SPLS) has experienced a decrease in hedge fund interest in recent months.
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With these “truths” under our belt, we’re going to take a look at the recent action encompassing Staples, Inc. (NASDAQ:SPLS).
What have hedge funds been doing with Staples, Inc. (NASDAQ:SPLS)?
Heading into 2013, a total of 34 of the hedge funds we track held long positions in this stock, a change of -11% from the previous quarter. With the smart money’s sentiment swirling, there exists a few notable hedge fund managers who were boosting their stakes meaningfully.
According to our comprehensive database, Pzena Investment Management, managed by Richard S. Pzena, holds the largest position in Staples, Inc. (NASDAQ:SPLS). Pzena Investment Management has a $447 million position in the stock, comprising 3.7% of its 13F portfolio. Coming in second is International Value Advisers, managed by Charles de Vaulx, which held a $143 million position; the fund has 3.2% of its 13F portfolio invested in the stock. Some other hedge funds that hold long positions include Russell Hawkins’s Hawkins Capital, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital and Donald Yacktman’s Yacktman Asset Management.
Because Staples, Inc. (NASDAQ:SPLS) has faced falling interest from the entirety of the hedge funds we track, we can see that there is a sect of hedgies who were dropping their entire stakes last quarter. At the top of the heap, Peter Adam Hochfelder’s Brahman Capital sold off the biggest stake of all the hedgies we track, comprising an estimated $37 million in call options. William B. Gray’s fund, Orbis Investment Management, also said goodbye to its stock, about $31 million worth. These bearish behaviors are intriguing to say the least, as aggregate hedge fund interest fell by 4 funds last quarter.
How have insiders been trading Staples, Inc. (NASDAQ:SPLS)?
Insider purchases made by high-level executives is most useful when the company in question has seen transactions within the past 180 days. Over the last half-year time period, Staples, Inc. (NASDAQ:SPLS) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).
With the returns shown by the aforementioned strategies, retail investors should always monitor hedge fund and insider trading activity, and Staples, Inc. (NASDAQ:SPLS) applies perfectly to this mantra.
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