Electronics For Imaging, Inc. (NASDAQ:EFII) was in 12 hedge funds’ portfolio at the end of December. EFII has seen a decrease in activity from the world’s largest hedge funds recently. There were 13 hedge funds in our database with EFII positions at the end of the previous quarter.
In today’s marketplace, there are many indicators market participants can use to analyze the equity markets. A pair of the most useful are hedge fund and insider trading sentiment. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the top investment managers can trounce the broader indices by a significant margin (see just how much).
Just as important, positive insider trading sentiment is a second way to break down the world of equities. There are a variety of stimuli for an insider to sell shares of his or her company, but only one, very clear reason why they would behave bullishly. Many academic studies have demonstrated the impressive potential of this strategy if you understand where to look (learn more here).
Keeping this in mind, let’s take a glance at the latest action encompassing Electronics For Imaging, Inc. (NASDAQ:EFII).
How are hedge funds trading Electronics For Imaging, Inc. (NASDAQ:EFII)?
At year’s end, a total of 12 of the hedge funds we track held long positions in this stock, a change of -8% from the third quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists a few noteworthy hedge fund managers who were upping their holdings significantly.
When looking at the hedgies we track, Third Avenue Management, managed by Martin Whitman, holds the largest position in Electronics For Imaging, Inc. (NASDAQ:EFII). Third Avenue Management has a $39.5 million position in the stock, comprising 0.9% of its 13F portfolio. On Third Avenue Management’s heels is Eric Bannasch of Cadian Capital, with a $19.6 million position; the fund has 0.6% of its 13F portfolio invested in the stock. Remaining hedgies that hold long positions include Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, Israel Englander’s Millennium Management and Eliav Assouline and Marc Andersen’s Axial Capital.
Since Electronics For Imaging, Inc. (NASDAQ:EFII) has experienced a declination in interest from the aggregate hedge fund industry, we can see that there was a specific group of hedge funds that slashed their positions entirely last quarter. It’s worth mentioning that SAC Subsidiary’s CR Intrinsic Investors dropped the biggest stake of all the hedgies we key on, totaling about $3.7 million in stock.. John Overdeck and David Siegel’s fund, Two Sigma Advisors, also dropped its stock, about $1.4 million worth. These transactions are important to note, as aggregate hedge fund interest was cut by 1 funds last quarter.
Insider trading activity in Electronics For Imaging, Inc. (NASDAQ:EFII)
Insider purchases made by high-level executives is particularly usable when the primary stock in question has experienced transactions within the past 180 days. Over the last 180-day time frame, Electronics For Imaging, Inc. (NASDAQ:EFII) has seen zero unique insiders purchasing, and 3 insider sales (see the details of insider trades here).
Let’s also review hedge fund and insider activity in other stocks similar to Electronics For Imaging, Inc. (NASDAQ:EFII). These stocks are Intermec Inc. (NYSE:IN), Nice Systems Ltd (ADR) (NASDAQ:NICE), Universal Display Corporation (NASDAQ:PANL), Synaptics, Incorporated (NASDAQ:SYNA), and Logitech International SA (USA) (NASDAQ:LOGI). All of these stocks are in the computer peripherals industry and their market caps resemble EFII’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Intermec Inc. (NYSE:IN) | 12 | 0 | 0 |
| Nice Systems Ltd (ADR) (NASDAQ:NICE) | 14 | 0 | 0 |
| Universal Display Corporation (NASDAQ:PANL) | 13 | 1 | 1 |
| Synaptics, Incorporated (NASDAQ:SYNA) | 9 | 0 | 2 |
| Logitech International SA (USA) (NASDAQ:LOGI) | 11 | 0 | 1 |
With the returns demonstrated by the aforementioned studies, everyday investors should always pay attention to hedge fund and insider trading activity, and Electronics For Imaging, Inc. (NASDAQ:EFII) shareholders fit into this picture quite nicely.
