Is JDS Uniphase Corp (NASDAQ:JDSU) undervalued? Money managers are getting more optimistic. The number of bullish hedge fund positions rose by 2 recently.
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With all of this in mind, it’s important to take a look at the key action surrounding JDS Uniphase Corp (NASDAQ:JDSU).
Hedge fund activity in JDS Uniphase Corp (NASDAQ:JDSU)
At the end of the fourth quarter, a total of 21 of the hedge funds we track were bullish in this stock, a change of 11% from the third quarter. With hedge funds’ sentiment swirling, there exists a select group of noteworthy hedge fund managers who were increasing their holdings considerably.
Of the funds we track, Citadel Investment Group, managed by Ken Griffin, holds the most valuable position in JDS Uniphase Corp (NASDAQ:JDSU). Citadel Investment Group has a $70 million position in the stock, comprising 0.1% of its 13F portfolio. The second largest stake is held by Manatuck Hill Partners, managed by Mark Broach, which held a $20 million position; 3% of its 13F portfolio is allocated to the company. Remaining peers that hold long positions include Cliff Asness’s AQR Capital Management, Brian Ashford-Russell and Tim Woolley’s Polar Capital and Steven Cohen’s SAC Capital Advisors.
Consequently, some big names have been driving this bullishness. Manatuck Hill Partners, managed by Mark Broach, initiated the biggest position in JDS Uniphase Corp (NASDAQ:JDSU). Manatuck Hill Partners had 20 million invested in the company at the end of the quarter. Philip Hempleman’s Ardsley Partners also made a $7 million investment in the stock during the quarter. The following funds were also among the new JDSU investors: Scott Fine and Peter Richards’s Empire Capital Management, Anand Parekh’s Alyeska Investment Group, and Glenn Russell Dubin’s Highbridge Capital Management.
What do corporate executives and insiders think about JDS Uniphase Corp (NASDAQ:JDSU)?
Insider buying is best served when the company in focus has seen transactions within the past 180 days. Over the last 180-day time frame, JDS Uniphase Corp (NASDAQ:JDSU) has experienced zero unique insiders purchasing, and 6 insider sales (see the details of insider trades here).
With the results shown by the aforementioned research, retail investors should always monitor hedge fund and insider trading sentiment, and JDS Uniphase Corp (NASDAQ:JDSU) is an important part of this process.
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