Five Below Inc (NASDAQ:FIVE) was in 6 hedge funds’ portfolio at the end of the fourth quarter of 2012. FIVE has seen a decrease in support from the world’s most elite money managers lately. There were 8 hedge funds in our database with FIVE positions at the end of the previous quarter.
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Now, we’re going to take a gander at the recent action encompassing Five Below Inc (NASDAQ:FIVE).
How are hedge funds trading Five Below Inc (NASDAQ:FIVE)?
At year’s end, a total of 6 of the hedge funds we track were long in this stock, a change of -25% from the third quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists an “upper tier” of noteworthy hedge fund managers who were upping their holdings considerably.
Of the funds we track, Miura Global Management, managed by Pasco Alfaro / Richard Tumure, holds the biggest position in Five Below Inc (NASDAQ:FIVE). Miura Global Management has a $17.7 million position in the stock, comprising 2.4% of its 13F portfolio. On Miura Global Management’s heels is Panayotis æTakisÆ Sparaggis of Alkeon Capital Management, with a $8 million position; 0.2% of its 13F portfolio is allocated to the company. Other peers with similar optimism include Drew Cupps’s Cupps Capital Management, Ward Davis and Brian Agnew’s Caerus Global Investors and Steven Cohen’s SAC Capital Advisors.
Judging by the fact that Five Below Inc (NASDAQ:FIVE) has faced a declination in interest from the aggregate hedge fund industry, we can see that there were a few fund managers who were dropping their entire stakes at the end of the year. Intriguingly, James Crichton and Adam Weiss’s Scout Capital Management cut the biggest stake of the “upper crust” of funds we watch, totaling an estimated $30.5 million in stock., and Israel Englander of Catapult Capital Management was right behind this move, as the fund cut about $0.8 million worth. These transactions are important to note, as total hedge fund interest dropped by 2 funds at the end of the year.
What have insiders been doing with Five Below Inc (NASDAQ:FIVE)?
Insider purchases made by high-level executives is most useful when the company we’re looking at has experienced transactions within the past 180 days. Over the latest half-year time frame, Five Below Inc (NASDAQ:FIVE) has seen zero unique insiders buying, and 22 insider sales (see the details of insider trades here).
Let’s also examine hedge fund and insider activity in other stocks similar to Five Below Inc (NASDAQ:FIVE). These stocks are Francesca’s Holdings Corp (NASDAQ:FRAN), HSN, Inc. (NASDAQ:HSNI), Vitamin Shoppe Inc (NYSE:VSI), Coinstar, Inc. (NASDAQ:CSTR), and Sothebys (NYSE:BID). This group of stocks belong to the specialty retail, other industry and their market caps are similar to FIVE’s market cap.