Now, according to many of your peers, hedge funds are seen as overrated, outdated investment vehicles of a period lost to current times. Although there are In excess of 8,000 hedge funds with their doors open in present day, Insider Monkey looks at the upper echelon of this club, around 525 funds. It is assumed that this group oversees the lion's share of the hedge fund industry's total assets, and by paying attention to their best stock picks, we've revealed a number of investment strategies that have historically outperformed the broader indices. Our small-cap hedge fund strategy beat the S&P 500 index by 18 percentage points per year for a decade in our back tests, and since we've started sharing our picks with our subscribers at the end of August 2012, we have topped the S&P 500 index by 33 percentage points in 11 months (find the details here).
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).
What's more, it's important to study the newest info about 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.
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.