Hedge Funds Are Crazy About FleetCor Technologies, Inc. (FLT)

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Equally as useful, optimistic insider trading sentiment is another way to analyze the financial markets. There are a number of reasons for a bullish insider to drop shares of his or her company, but just one, very obvious reason why they would behave bullishly. Several empirical studies have demonstrated the market-beating potential of this tactic if piggybackers know where to look (learn more here).

FleetCor Technologies, Inc. (NYSE:FLT)

What's more, it's important to study the newest info about FleetCor Technologies, Inc. (NYSE:FLT).

What have hedge funds been doing with FleetCor Technologies, Inc. (NYSE:FLT)?

At the end of the second quarter, a total of 39 of the hedge funds we track held long positions in this stock, a change of 11% from the first quarter. With the smart money's sentiment swirling, there exists a select group of noteworthy hedge fund managers who were upping their stakes meaningfully.

With a general bullishness amongst the titans, specific money managers have jumped into FleetCor Technologies, Inc. (NYSE:FLT) headfirst. Lone Pine Capital, managed by Stephen Mandel, assembled the most outsized position in FleetCor Technologies, Inc. (NYSE:FLT). Lone Pine Capital had 435 million invested in the company at the end of the quarter. Daniel S. Och's OZ Management also initiated a $235.3 million position during the quarter. The other funds with brand new FLT positions are Chase Coleman and Feroz Dewan's Tiger Global Management LLC, Jonathan Auerbach's Hound Partners, and Robert Pitts's Steadfast Capital Management.

How are insiders trading FleetCor Technologies, Inc. (NYSE:FLT)?

Bullish insider trading is particularly usable when the company in focus has seen transactions within the past six months. Over the latest six-month time period, FleetCor Technologies, Inc. (NYSE:FLT) has experienced zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).

We'll go over the relationship between both of these indicators in other stocks similar to FleetCor Technologies, Inc. (NYSE:FLT). These stocks are Verisk Analytics, Inc. (NASDAQ:VRSK), Global Payments Inc (NYSE:GPN), Alliance Data Systems Corporation (NYSE:ADS), Vantiv Inc (NYSE:VNTV), and Cintas Corporation (NASDAQ:CTAS). This group of stocks belong to the business services industry and their market caps are similar to FLT's market cap.

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