Iconix Brand Group Inc (NASDAQ:ICON) was in 8 hedge funds’ portfolio at the end of December. ICON investors should pay attention to a decrease in support from the world’s most elite money managers in recent months. There were 10 hedge funds in our database with ICON positions at the end of the previous quarter.
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Keeping this in mind, let’s take a look at the latest action regarding Iconix Brand Group Inc (NASDAQ:ICON).
How are hedge funds trading Iconix Brand Group Inc (NASDAQ:ICON)?
In preparation for this year, a total of 8 of the hedge funds we track held long positions in this stock, a change of -20% from the third quarter. With the smart money’s capital changing hands, there exists a few key hedge fund managers who were upping their holdings significantly.
According to our comprehensive database, Wallace Weitz’s Wallace R. Weitz & Co. had the largest position in Iconix Brand Group Inc (NASDAQ:ICON), worth close to $73 million, accounting for 3.2% of its total 13F portfolio. Coming in second is D. E. Shaw of D E Shaw, with a $2 million position; the fund has 0% of its 13F portfolio invested in the stock. Other hedge funds that are bullish include Brian Taylor’s Pine River Capital Management, Zeke Ashton’s Centaur Capital Partners and Whitney Tilson’s T2 Partners.
Because Iconix Brand Group Inc (NASDAQ:ICON) has witnessed a declination in interest from hedge fund managers, it’s easy to see that there exists a select few money managers who sold off their positions entirely in Q4. Intriguingly, Mark Travis’s Intrepid Capital Management dumped the largest position of all the hedgies we track, worth close to $17 million in stock., and John Overdeck and David Siegel of Two Sigma Advisors was right behind this move, as the fund said goodbye to about $0 million worth. These bearish behaviors are important to note, as total hedge fund interest fell by 2 funds in Q4.
How are insiders trading Iconix Brand Group Inc (NASDAQ:ICON)?
Insider buying is best served when the primary stock in question has seen transactions within the past six months. Over the last half-year time frame, Iconix Brand Group Inc (NASDAQ:ICON) has seen zero unique insiders purchasing, and 4 insider sales (see the details of insider trades here).
With the returns exhibited by the aforementioned research, retail investors should always watch hedge fund and insider trading sentiment, and Iconix Brand Group Inc (NASDAQ:ICON) applies perfectly to this mantra.
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