Do Hedge Funds and Insiders Love Papa John’s Int’l, Inc. (PZZA)?

Page 1 of 2

Papa John’s Int’l, Inc. (NASDAQ:PZZA) was in 9 hedge funds’ portfolio at the end of the first quarter of 2013. PZZA investors should pay attention to a decrease in hedge fund interest in recent months. There were 12 hedge funds in our database with PZZA positions at the end of the previous quarter.

To the average investor, there are tons of metrics shareholders can use to track Mr. Market. Two of the most underrated 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 fund managers can outclass the market by a very impressive amount (see just how much).

Just as important, positive insider trading activity is another way to parse down the marketplace. Obviously, there are many motivations for an executive to drop shares of his or her company, but just one, very simple reason why they would buy. Many empirical studies have demonstrated the valuable potential of this tactic if piggybackers understand what to do (learn more here).

With all of this in mind, let’s take a look at the latest action surrounding Papa John’s Int’l, Inc. (NASDAQ:PZZA).

How have hedgies been trading Papa John’s Int’l, Inc. (NASDAQ:PZZA)?

Heading into Q2, a total of 9 of the hedge funds we track were bullish in this stock, a change of -25% from the first quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists an “upper tier” of key hedge fund managers who were upping their stakes significantly.

According to our comprehensive database, Renaissance Technologies, managed by Jim Simons, holds the biggest position in Papa John’s Int’l, Inc. (NASDAQ:PZZA). Renaissance Technologies has a $22.6 million position in the stock, comprising 0.1% of its 13F portfolio. On Renaissance Technologies’s heels is CSat Investment Advisory, managed by Claes Fornell, which held a $14.3 million position; 5.5% of its 13F portfolio is allocated to the company. Remaining hedgies with similar optimism include Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, Cliff Asness’s AQR Capital Management and Ward Davis and Brian Agnew’s Caerus Global Investors.

Because Papa John’s Int’l, Inc. (NASDAQ:PZZA) has experienced a declination in interest from the aggregate hedge fund industry, we can see that there is a sect of fund managers who were dropping their full holdings at the end of the first quarter. Intriguingly, Robert B. Gillam’s McKinley Capital Management dropped the largest investment of all the hedgies we key on, totaling an estimated $5.2 million in stock.. Drew Cupps’s fund, Cupps Capital Management, also sold off its stock, about $4.4 million worth. These moves are intriguing to say the least, as total hedge fund interest dropped by 3 funds at the end of the first quarter.

Insider trading activity in Papa John’s Int’l, Inc. (NASDAQ:PZZA)

Insider purchases made by high-level executives is particularly usable when the primary stock in question has experienced transactions within the past half-year. Over the latest six-month time frame, Papa John’s Int’l, Inc. (NASDAQ:PZZA) has experienced 1 unique insiders purchasing, and 5 insider sales (see the details of insider trades here).

Let’s also take a look at hedge fund and insider activity in other stocks similar to Papa John’s Int’l, Inc. (NASDAQ:PZZA). These stocks are Buffalo Wild Wings (NASDAQ:BWLD), Bob Evans Farms Inc (NASDAQ:BOBE), Jack in the Box Inc. (NASDAQ:JACK), DineEquity Inc (NYSE:DIN), and Texas Roadhouse Inc (NASDAQ:TXRH). This group of stocks are in the restaurants industry and their market caps are similar to PZZA’s market cap.

Page 1 of 2
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 10 Largest Pharmaceutical Companies In the World

The 10 Most Expensive Android Apps

The 9 Most Expensive Designer Bags in the World

The 7 Most Expensive Real Estate in the World

The 10 Most Expensive eBay Items Ever Sold

The 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!