Is Werner Enterprises, Inc. (NASDAQ:WERN) a buy?
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Keeping this in mind, we’re going to study the latest info for Werner Enterprises, Inc. (NASDAQ:WERN).
What have hedge funds been doing with Werner Enterprises, Inc. (NASDAQ:WERN)?
In preparation for the third quarter, a total of 9 of the hedge funds we track were long in this stock, a change of -10% from the first quarter. With hedge funds’ sentiment swirling, there exists a few noteworthy hedge fund managers who were upping their stakes substantially.
According to our 13F database, Joel Greenblatt’s Gotham Asset Management had the largest position in Werner Enterprises, Inc. (NASDAQ:WERN), worth close to $7.2 million, accounting for 0.3% of its total 13F portfolio. Sitting at the No. 2 spot is Royce & Associates, managed by Chuck Royce, which held a $7.2 million position; less than 0.1%% of its 13F portfolio is allocated to the stock. Other peers that hold long positions include Cliff Asness’s AQR Capital Management, John Overdeck and David Siegel’s Two Sigma Advisors and Israel Englander’s Millennium Management.
Due to the fact Werner Enterprises, Inc. (NASDAQ:WERN) has witnessed dropping sentiment from the top-tier hedge fund industry, it’s safe to say that there lies a certain “tier” of hedge funds who were dropping their full holdings heading into Q2. At the top of the heap, John Fichthorn’s Dialectic Capital Management said goodbye to the largest stake of all the hedgies we key on, worth an estimated $4.4 million in stock, and Ken Gray and Steve Walsh of Bryn Mawr Capital was right behind this move, as the fund said goodbye to about $4.2 million worth. These moves are important to note, as total hedge fund interest dropped by 1 funds heading into Q2.
How are insiders trading Werner Enterprises, Inc. (NASDAQ:WERN)?
Insider buying made by high-level executives is most useful when the primary stock in question has experienced transactions within the past half-year. Over the latest half-year time frame, Werner Enterprises, Inc. (NASDAQ:WERN) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).
We’ll also review the relationship between both of these indicators in other stocks similar to Werner Enterprises, Inc. (NASDAQ:WERN). These stocks are Heartland Express, Inc. (NASDAQ:HTLD), Landstar System, Inc. (NASDAQ:LSTR), Knight Transportation (NYSE:KNX), Swift Transportation Co (NYSE:SWFT), and Con-way Inc (NYSE:CNW). This group of stocks are the members of the trucking industry and their market caps are closest to WERN’s market cap.