Should Tangoe Inc (NASDAQ:TNGO) investors track the following data?
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Equally as crucial, optimistic insider trading sentiment is another way to look at the world of equities. As the old adage goes: there are plenty of incentives for an executive to downsize shares of his or her company, but just one, very clear reason why they would initiate a purchase. Several empirical studies have demonstrated the useful potential of this strategy if shareholders understand where to look (learn more here).
Furthermore, we’re going to discuss the latest info for Tangoe Inc (NASDAQ:TNGO).
What does the smart money think about Tangoe Inc (NASDAQ:TNGO)?
At Q2’s end, a total of 9 of the hedge funds we track held long positions in this stock, a change of -10% from one quarter earlier. With hedgies’ capital changing hands, there exists a few notable hedge fund managers who were boosting their holdings substantially.
Out of the hedge funds we follow, Joe DiMenna’s ZWEIG DIMENNA PARTNERS had the biggest position in Tangoe Inc (NASDAQ:TNGO), worth close to $16.5 million, accounting for 0.7% of its total 13F portfolio. Sitting at the No. 2 spot is Mark N. Diker of Diker Management, with a $3.1 million position; the fund has 1% of its 13F portfolio invested in the stock. Other hedge funds with similar optimism include Brad Gerstner’s Altimeter Capital Management, Steve Shapiro’s Intrepid Capital Management Inc DE and Richard C. Patton’s Courage Capital.
Due to the fact Tangoe Inc (NASDAQ:TNGO) has faced a fall in interest from the smart money’s best and brightest, it’s safe to say that there is a sect of hedge funds who were dropping their entire stakes heading into Q2. Interestingly, Israel Englander’s Millennium Management said goodbye to the largest position of all the hedgies we monitor, worth close to $1.8 million in stock, and Jason F. Harris of Kendall Square Capital was right behind this move, as the fund said goodbye to about $1.1 million worth. These moves are interesting, as aggregate hedge fund interest dropped by 1 funds heading into Q2.
What have insiders been doing with Tangoe Inc (NASDAQ:TNGO)?
Insider buying made by high-level executives is most useful when the company we’re looking at has experienced transactions within the past six months. Over the latest half-year time period, Tangoe Inc (NASDAQ:TNGO) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
We’ll go over the relationship between both of these indicators in other stocks similar to Tangoe Inc (NASDAQ:TNGO). These stocks are CSG Systems International, Inc. (NASDAQ:CSGS), Ebix Inc (NASDAQ:EBIX), Descartes Systems Group (USA) (NASDAQ:DSGX), Perficient, Inc. (NASDAQ:PRFT), and Servicesource International Inc (NASDAQ:SREV). This group of stocks are in the business software & services industry and their market caps are closest to TNGO’s market cap.