Ameresco Inc (NYSE:AMRC) has seen a decrease in activity from the world’s largest hedge funds of late.
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Equally as key, bullish insider trading activity is another way to break down the investments you’re interested in. Obviously, there are a number of stimuli for an upper level exec to cut shares of his or her company, but only one, very simple reason why they would initiate a purchase. Plenty of academic studies have demonstrated the useful potential of this tactic if piggybackers know where to look (learn more here).
Keeping this in mind, let’s take a glance at the recent action regarding Ameresco Inc (NYSE:AMRC).
What have hedge funds been doing with Ameresco Inc (NYSE:AMRC)?
In preparation for this year, a total of 5 of the hedge funds we track were long in this stock, a change of -38% from the third quarter. With the smart money’s sentiment swirling, there exists a few key hedge fund managers who were boosting their stakes considerably.
According to our comprehensive database, Royce & Associates, managed by Chuck Royce, holds the biggest position in Ameresco Inc (NYSE:AMRC). Royce & Associates has a $7.6 million position in the stock, comprising less than 0.1%% of its 13F portfolio. Coming in second is John A. Levin of Levin Capital Strategies, with a $3 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Other hedgies that hold long positions include John Overdeck and David Siegel’s Two Sigma Advisors, Jim Simons’s Renaissance Technologies and Paul Tudor Jones’s Tudor Investment Corp.
Judging by the fact that Ameresco Inc (NYSE:AMRC) has witnessed a declination in interest from hedge fund managers, logic holds that there was a specific group of fund managers who sold off their positions entirely last quarter. Interestingly, Philip Hempleman’s Ardsley Partners said goodbye to the largest position of the “upper crust” of funds we track, worth an estimated $0.8 million in stock., and Andrew R. Midler of Savitr Capital was right behind this move, as the fund cut about $0.2 million worth. These moves are intriguing to say the least, as aggregate hedge fund interest was cut by 3 funds last quarter.
How are insiders trading Ameresco Inc (NYSE:AMRC)?
Insider trading activity, especially when it’s bullish, is best served when the primary stock in question has experienced transactions within the past half-year. Over the last 180-day time frame, Ameresco Inc (NYSE:AMRC) has experienced 3 unique insiders purchasing, and 1 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 Ameresco Inc (NYSE:AMRC). These stocks are Coleman Cable, Inc. (NASDAQ:CCIX), Zoltek Companies, Inc. (NASDAQ:ZOLT), Capstone Turbine Corporation (NASDAQ:CPST), Preformed Line Products Company (NASDAQ:PLPC), and Electro Scientific Industries, Inc. (NASDAQ:ESIO). This group of stocks are in the industrial electrical equipment industry and their market caps match AMRC’s market cap.