In the financial world, there are plenty of gauges shareholders can use to analyze stocks. Two of the most underrated are hedge fund and insider trading activity. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the top money managers can outpace the S&P 500 by a significant amount (see just how much).
Just as crucial, optimistic insider trading sentiment is another way to analyze the world of equities. Just as you’d expect, there are plenty of stimuli for a bullish insider to cut shares of his or her company, but just one, very obvious reason why they would initiate a purchase. Several empirical studies have demonstrated the market-beating potential of this strategy if “monkeys” understand where to look (learn more here).
Furthermore, it’s important to examine the latest info surrounding Wabash National Corporation (NYSE:WNC).
How have hedgies been trading Wabash National Corporation (NYSE:WNC)?
Heading into Q3, a total of 14 of the hedge funds we track held long positions in this stock, a change of -18% from the first quarter. With hedgies’ capital changing hands, there exists a select group of key hedge fund managers who were upping their stakes substantially.
Because Wabash National Corporation (NYSE:WNC) has experienced bearish sentiment from the smart money’s best and brightest, we can see that there were a few funds who were dropping their positions entirely last quarter. Intriguingly, David Keidan’s Buckingham Capital Management said goodbye to the largest stake of all the hedgies we track, totaling about $11 million in stock. Neil Chriss’s fund, Hutchin Hill Capital, also sold off its stock, about $2.8 million worth. These bearish behaviors are interesting, as aggregate hedge fund interest was cut by 3 funds last quarter.
Insider trading activity in Wabash National Corporation (NYSE:WNC)
Legal insider trading, particularly when it’s bullish, is particularly usable when the company we’re looking at has experienced transactions within the past six months. Over the last half-year time period, Wabash National Corporation (NYSE:WNC) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).
We’ll also examine the relationship between both of these indicators in other stocks similar to Wabash National Corporation (NYSE:WNC). These stocks are Oshkosh Corporation (NYSE:OSK), Navistar International Corp (NYSE:NAV), Spartan Motors Inc (NASDAQ:SPAR), Accuride Corporation (NYSE:ACW), and Hyster-Yale Materials Handling Inc (NYSE:HY). This group of stocks are the members of the trucks & other vehicles industry and their market caps are closest to WNC’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Oshkosh Corporation (NYSE:OSK) | 18 | 0 | 0 |
| Navistar International Corp (NYSE:NAV) | 24 | 0 | 0 |
| Spartan Motors Inc (NASDAQ:SPAR) | 6 | 0 | 0 |
| Accuride Corporation (NYSE:ACW) | 9 | 0 | 0 |
| Hyster-Yale Materials Handling Inc (NYSE:HY) | 12 | 0 | 0 |
Using the results shown by Insider Monkey’s analyses, average investors should always pay attention to hedge fund and insider trading sentiment, and Wabash National Corporation (NYSE:WNC) is an important part of this process.
