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This Metric Says You Are Smart to Sell Unwired Planet Inc (UPIP)

Unwired Planet Inc (NASDAQ:UPIP)Unwired Planet Inc (NASDAQ:UPIP) was in 12 hedge funds’ portfolio at the end of December. UPIP has seen a decrease in hedge fund interest in recent months. There were 13 hedge funds in our database with UPIP positions at the end of the previous quarter.

At the moment, there are a multitude of metrics shareholders can use to monitor stocks. Some of the most underrated are hedge fund and insider trading activity. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the top hedge fund managers can trounce the broader indices by a significant margin (see just how much).

Equally as beneficial, positive insider trading activity is another way to parse down the investments you’re interested in. Just as you’d expect, there are lots of incentives for a corporate insider to drop shares of his or her company, but only one, very obvious reason why they would initiate a purchase. Many empirical studies have demonstrated the impressive potential of this strategy if piggybackers know what to do (learn more here).

With these “truths” under our belt, let’s take a peek at the key action encompassing Unwired Planet Inc (NASDAQ:UPIP).

What have hedge funds been doing with Unwired Planet Inc (NASDAQ:UPIP)?

At year’s end, a total of 12 of the hedge funds we track were long in this stock, a change of -8% from the third quarter. With hedgies’ capital changing hands, there exists a select group of key hedge fund managers who were increasing their stakes significantly.

When looking at the hedgies we track, Starboard Value LP, managed by Jeffrey Smith, holds the largest position in Unwired Planet Inc (NASDAQ:UPIP). Starboard Value LP has a $10.2 million position in the stock, comprising 1.2% of its 13F portfolio. On Starboard Value LP’s heels is Soros Fund Management, managed by George Soros, which held a $7.2 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Other hedgies that hold long positions include Mark Kingdon’s Kingdon Capital, Spencer M. Waxman’s Shannon River Fund Management and Robert Millard’s Realm Partners.

Because Unwired Planet Inc (NASDAQ:UPIP) has witnessed falling interest from hedge fund managers, it’s easy to see that there exists a select few hedgies that elected to cut their positions entirely at the end of the year. At the top of the heap, John Fichthorn’s Dialectic Capital Management cut the largest position of the 450+ funds we monitor, comprising an estimated $4.3 million in stock., and Richard Schimel of Diamondback Capital was right behind this move, as the fund dropped about $2 million worth. These transactions are important to note, as total hedge fund interest fell by 1 funds at the end of the year.

Insider trading activity in Unwired Planet Inc (NASDAQ:UPIP)

Insider purchases made by high-level executives is most useful when the primary stock in question has seen transactions within the past 180 days. Over the last 180-day time frame, Unwired Planet Inc (NASDAQ:UPIP) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).

Let’s go over hedge fund and insider activity in other stocks similar to Unwired Planet Inc (NASDAQ:UPIP). These stocks are American Software, Inc. (NASDAQ:AMSWA), Zix Corporation (NASDAQ:ZIXI), Agilysys, Inc. (NASDAQ:AGYS), Magic Software Enterprises Ltd. (NASDAQ:MGIC), and QAD Inc. (NASDAQ:QADA). This group of stocks are in the application software industry and their market caps are closest to UPIP’s market cap.

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