Nash-Finch Company (NASDAQ:NAFC) shareholders have witnessed a decrease in hedge fund interest of late.
To the average investor, there are a multitude of methods investors can use to track the equity markets. Two of the best are hedge fund and insider trading interest. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the elite investment managers can outpace the broader indices by a healthy amount (see just how much).
Equally as key, positive insider trading sentiment is a second way to break down the world of equities. There are many incentives for an executive to get rid of shares of his or her company, but just one, very obvious reason why they would buy. Plenty of empirical studies have demonstrated the market-beating potential of this strategy if investors know what to do (learn more here).
Keeping this in mind, we’re going to take a look at the latest action regarding Nash-Finch Company (NASDAQ:NAFC).
How are hedge funds trading Nash-Finch Company (NASDAQ:NAFC)?
Heading into Q2, a total of 5 of the hedge funds we track held long positions in this stock, a change of -17% from the previous quarter. With the smart money’s sentiment swirling, there exists a few key hedge fund managers who were upping their stakes substantially.
When looking at the hedgies we track, Cliff Asness’s AQR Capital Management had the largest position in Nash-Finch Company (NASDAQ:NAFC), worth close to $2.8 million, accounting for less than 0.1%% of its total 13F portfolio. The second largest stake is held by Citadel Investment Group, managed by Ken Griffin, which held a $1 million position; less than 0.1%% of its 13F portfolio is allocated to the company. Remaining peers that hold long positions include Jim Simons’s Renaissance Technologies, John Overdeck and David Siegel’s Two Sigma Advisors and Ken Gray and Steve Walsh’s Bryn Mawr Capital.
Due to the fact that Nash-Finch Company (NASDAQ:NAFC) has witnessed bearish sentiment from the aggregate hedge fund industry, we can see that there exists a select few money managers that decided to sell off their positions entirely heading into Q2. It’s worth mentioning that Paul Tudor Jones’s Tudor Investment Corp dumped the biggest position of the 450+ funds we track, valued at an estimated $0.5 million in stock., and Israel Englander of Millennium Management was right behind this move, as the fund said goodbye to about $0.3 million worth. These bearish behaviors are intriguing to say the least, as aggregate hedge fund interest fell by 1 funds heading into Q2.
What do corporate executives and insiders think about Nash-Finch Company (NASDAQ:NAFC)?
Insider trading activity, especially when it’s bullish, is at its handiest when the company in focus has seen transactions within the past half-year. Over the last 180-day time frame, Nash-Finch Company (NASDAQ:NAFC) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).
With the results exhibited by Insider Monkey’s research, retail investors should always keep an eye on hedge fund and insider trading activity, and Nash-Finch Company (NASDAQ:NAFC) applies perfectly to this mantra.