To the average investor, there are tons of metrics market participants can use to monitor Mr. Market. A pair of the most innovative are hedge fund and insider trading sentiment. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the elite money managers can beat the market by a solid margin (see just how much).
Equally as useful, optimistic insider trading activity is a second way to look at the world of equities. Obviously, there are lots of incentives for an upper level exec to get rid of shares of his or her company, but only one, very simple reason why they would buy. Several empirical studies have demonstrated the valuable potential of this method if you know where to look (learn more here).
Now that that’s out of the way, it’s important to analyze the latest info for TASER International, Inc. (NASDAQ:TASR).
What does the smart money think about TASER International, Inc. (NASDAQ:TASR)?
At Q2’s end, a total of 14 of the hedge funds we track were long in this stock, a change of 56% from the previous quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists an “upper tier” of noteworthy hedge fund managers who were increasing their stakes significantly.
When using filings from the hedgies we track, Jim Simons’s Renaissance Technologies had the biggest position in TASER International, Inc. (NASDAQ:TASR), worth close to $21.1 million, comprising 0.1% of its total 13F portfolio. Coming in second is Robert B. Gillam of McKinley Capital Management, with a $5.3 million position; the fund has 0.3% of its 13F portfolio invested in the stock. Other hedge funds that hold long positions include Cliff Asness’s AQR Capital Management, Ken Griffin’s Citadel Investment Group and Joel Greenblatt’s Gotham Asset Management.
As aggregate interest spiked, certain bigger names were leading the bulls’ herd. Renaissance Technologies, managed by Jim Simons, created the biggest position in TASER International, Inc. (NASDAQ:TASR). Renaissance Technologies had 21.1 million invested in the company at the end of the quarter. Robert B. Gillam’s McKinley Capital Management also initiated a $5.3 million position during the quarter. The following funds were also among the new TASR investors: Cliff Asness’s AQR Capital Management, Ken Griffin’s Citadel Investment Group, and Joel Greenblatt’s Gotham Asset Management.
What have insiders been doing with TASER International, Inc. (NASDAQ:TASR)?
Insider buying made by high-level executives is at its handiest when the company in question has experienced transactions within the past six months. Over the latest 180-day time period, TASER International, Inc. (NASDAQ:TASR) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
We’ll check out the relationship between both of these indicators in other stocks similar to TASER International, Inc. (NASDAQ:TASR). These stocks are AAR Corp. (NYSE:AIR), LMI Aerospace, Inc. (NASDAQ:LMIA), Smith & Wesson Holding Corporation (NASDAQ:SWHC), AeroVironment, Inc. (NASDAQ:AVAV), and Astronics Corporation (NASDAQ:ATRO). This group of stocks belong to the aerospace/defense products & services industry and their market caps are closest to TASR’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| AAR Corp. (NYSE:AIR) | 15 | 0 | 0 |
| LMI Aerospace, Inc. (NASDAQ:LMIA) | 4 | 0 | 0 |
| Smith & Wesson Holding Corporation (NASDAQ:SWHC) | 20 | 0 | 0 |
| AeroVironment, Inc. (NASDAQ:AVAV) | 6 | 0 | 0 |
| Astronics Corporation (NASDAQ:ATRO) | 13 | 0 | 0 |
Using the results explained by the previously mentioned tactics, average investors should always watch hedge fund and insider trading activity, and TASER International, Inc. (NASDAQ:TASR) applies perfectly to this mantra.
