Is it smart to be bullish on PRGX Global Inc (NASDAQ:PRGX)?
In today’s marketplace, there are many methods investors can use to watch stocks. A pair of the most innovative are hedge fund and insider trading movement. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the top money managers can trounce the broader indices by a solid margin (see just how much).
Equally as useful, positive insider trading sentiment is a second way to analyze the financial markets. Just as you’d expect, there are a variety of stimuli for a corporate insider to downsize shares of his or her company, but just one, very simple reason why they would behave bullishly. Plenty of academic studies have demonstrated the impressive potential of this method if “monkeys” understand where to look (learn more here).
Keeping this in mind, we’re going to study the latest info surrounding PRGX Global Inc (NASDAQ:PRGX).
How have hedgies been trading PRGX Global Inc (NASDAQ:PRGX)?
At Q2’s end, a total of 8 of the hedge funds we track were bullish in this stock, a change of -11% from one quarter earlier. With hedgies’ sentiment swirling, there exists a select group of key hedge fund managers who were boosting their holdings substantially.
When using filings from the hedgies we track, Archon Capital Management, managed by Constantinos J. Christofilis, holds the biggest position in PRGX Global Inc (NASDAQ:PRGX). Archon Capital Management has a $8.6 million position in the stock, comprising 3.9% of its 13F portfolio. On Archon Capital Management’s heels is Jim Simons of Renaissance Technologies, with a $5.9 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Some other hedgies that hold long positions include J. Carlo Cannell’s Cannell Capital, Matthew Drapkin and Steven R. Becker’s Becker Drapkin Management and Jason F. Harris’s Kendall Square Capital.
What do corporate executives and insiders think about PRGX Global Inc (NASDAQ:PRGX)?
Insider buying is most useful when the company we’re looking at has seen transactions within the past 180 days. Over the latest 180-day time frame, PRGX Global Inc (NASDAQ:PRGX) has experienced zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
We’ll also review the relationship between both of these indicators in other stocks similar to PRGX Global Inc (NASDAQ:PRGX). These stocks are Reis Inc (NASDAQ:REIS), PowerSecure International, Inc. (NASDAQ:POWR), Swisher Hygiene, Inc. (NASDAQ:SWSH), Digital Generation Inc (NASDAQ:DGIT), and Limelight Networks, Inc. (NASDAQ:LLNW). This group of stocks are in the business services industry and their market caps are closest to PRGX’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Reis Inc (NASDAQ:REIS) | 4 | 0 | 0 |
| PowerSecure International, Inc. (NASDAQ:POWR) | 14 | 0 | 0 |
| Swisher Hygiene, Inc. (NASDAQ:SWSH) | 5 | 0 | 0 |
| Digital Generation Inc (NASDAQ:DGIT) | 11 | 0 | 0 |
| Limelight Networks, Inc. (NASDAQ:LLNW) | 9 | 0 | 0 |
Using the returns demonstrated by Insider Monkey’s research, regular investors should always pay attention to hedge fund and insider trading sentiment, and PRGX Global Inc (NASDAQ:PRGX) shareholders fit into this picture quite nicely.
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Hedge Funds Aren’t Crazy About PRGX Global Inc (PRGX) Anymore
