Do Hedge Funds and Insiders Love Geospace Technologies Corp (GEOS)?

Geospace Technologies Corp (NASDAQ:GEOS) was in 12 hedge funds’ portfolio at the end of December. GEOS shareholders have witnessed an increase in activity from the world’s largest hedge funds recently. There were 5 hedge funds in our database with GEOS holdings at the end of the previous quarter.

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With all of this in mind, let’s take a gander at the key action encompassing Geospace Technologies Corp (NASDAQ:GEOS).

What does the smart money think about Geospace Technologies Corp (NASDAQ:GEOS)?

In preparation for this year, a total of 12 of the hedge funds we track were long in this stock, a change of 140% from the third quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists an “upper tier” of noteworthy hedge fund managers who were upping their stakes meaningfully.

When looking at the hedgies we track, Millennium Management, managed by Israel Englander, holds the most valuable position in Geospace Technologies Corp (NASDAQ:GEOS). Millennium Management has a $25 million position in the stock, comprising 0.2% of its 13F portfolio. Sitting at the No. 2 spot is Cupps Capital Management, managed by Drew Cupps, which held a $14.1 million position; the fund has 1.6% of its 13F portfolio invested in the stock. Other hedge funds with similar optimism include Andrew Sandler’s Sandler Capital Management, Richard Driehaus’s Driehaus Capital and Chuck Royce’s Royce & Associates.

As one would reasonably expect, some big names have jumped into Geospace Technologies Corp (NASDAQ:GEOS) headfirst. Millennium Management, managed by Israel Englander, assembled the largest position in Geospace Technologies Corp (NASDAQ:GEOS). Millennium Management had 25 million invested in the company at the end of the quarter. Drew Cupps’s Cupps Capital Management also initiated a $14.1 million position during the quarter. The other funds with new positions in the stock are Andrew Sandler’s Sandler Capital Management, Chuck Royce’s Royce & Associates, and Cliff Asness’s AQR Capital Management.

What have insiders been doing with Geospace Technologies Corp (NASDAQ:GEOS)?

Insider purchases made by high-level executives is particularly usable when the company in question has seen transactions within the past half-year. Over the latest half-year time frame, Geospace Technologies Corp (NASDAQ:GEOS) has experienced zero unique insiders purchasing, and 4 insider sales (see the details of insider trades here).

Let’s also review hedge fund and insider activity in other stocks similar to Geospace Technologies Corp (NASDAQ:GEOS). These stocks are ESCO Technologies Inc. (NYSE:ESE), Cubic Corporation (NYSE:CUB), Curtiss-Wright Corp. (NYSE:CW), Ixia (NASDAQ:XXIA), and Coherent, Inc. (NASDAQ:COHR). This group of stocks are in the scientific & technical instruments industry and their market caps are similar to GEOS’s market cap.

With the returns exhibited by our strategies, retail investors should always pay attention to hedge fund and insider trading sentiment, and Geospace Technologies Corp (NASDAQ:GEOS) is an important part of this process.

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