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.

Should You Follow Insiders Into Actua Corp (ACTA)?

Hedge fund activity in Actua Corp (NASDAQ:ACTA)

At the end of the first quarter, a total of seven of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 17% from the previous quarter. When it comes to the total value of those holdings, however, we see a slightly bearish sign in the fact that total value of holdings decreased to about $10.06 million by the end of the first quarter of 2015 from about $14.05 million at the end of the fourth quarter of 2014. This is a 28.37% decline and should be noted even while taking into consideration that the stock plunged 16.13% from January 2 to March 31 of this year, which accounted for some of that dip in total value.

Of the funds tracked by Insider Monkey, SG Capital Management, managed by Ken Grossman and Glen Schneider, holds the largest position in Actua Corp (NASDAQ:ACTA). SG Capital Management has a $6.3 million position in the stock, comprising 1.8% of its 13F portfolio. On SG Capital Management’s heels is Renaissance Technologies, managed by Jim Simons, which held a $1.1 million position: less than 0.1% of its 13F portfolio. Some other hedgies that hold long positions comprise D. E. Shaw’s D E Shaw, and Josh Goldberg’s G2 Investment Partners Management.

As aggregate interest increased, some big names were leading the bulls’ herd. The aforementioned Renaissance Technologies assembled the most outsized position in Actua Corp (NASDAQ:ACTA) with its $1.1 million investment in the company. Ken Griffin‘s Citadel Investment Group meanwhile initiated a $556,000 position during the quarter. The only other fund with a new position in the stock was Peter Muller’s PDT Partners.

While the total investments of hedge funds in the stock decreased slightly during the first quarter and they appear to have accurately predicted its dip early in the second quarter, the massive spike in confidence by insiders in the company is now pushing the next growth trend for the stock, which is up nearly 18% over the last month. Given that, we also recommend going long on Actua Corp (NASDAQ:ACTA).

Disclosure: None

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.