Hedge Funds Aren’t Crazy About NVR, Inc. (NYSE:NVR) Anymore

NVR, Inc. (NYSE:NVR) investors should pay attention to a decrease in hedge fund sentiment recently.

NVR, Inc. (NYSE:NVR)

In the financial world, there are tons of methods market participants can use to track stocks. Two of the most underrated are hedge fund and insider trading activity. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the best fund managers can outperform the broader indices by a superb amount (see just how much).

Just as beneficial, bullish insider trading sentiment is a second way to parse down the investments you’re interested in. Obviously, there are plenty of stimuli for an executive to downsize shares of his or her company, but just one, very clear reason why they would initiate a purchase. Several empirical studies have demonstrated the valuable potential of this tactic if investors know what to do (learn more here).

Keeping this in mind, we’re going to take a peek at the recent action encompassing NVR, Inc. (NYSE:NVR).

How are hedge funds trading NVR, Inc. (NYSE:NVR)?

At year’s end, a total of 18 of the hedge funds we track were bullish in this stock, a change of -18% from one quarter earlier. With hedge funds’ sentiment swirling, there exists a few notable hedge fund managers who were boosting their stakes meaningfully.

Of the funds we track, Alan Fournier’s Pennant Capital Management had the most valuable position in NVR, Inc. (NYSE:NVR), worth close to $239 million, comprising 5% of its total 13F portfolio. Coming in second is Maverick Capital, managed by Lee Ainslie, which held a $193 million position; 0% of its 13F portfolio is allocated to the stock. Other hedge funds that are bullish include Jason Capello’s Merchants’ Gate Capital, Robert Bishop’s Impala Asset Management and Ken Griffin’s Citadel Investment Group.

Seeing as NVR, Inc. (NYSE:NVR) has faced declining sentiment from hedge fund managers, we can see that there was a specific group of fund managers that decided to sell off their full holdings last quarter. At the top of the heap, Richard Chilton’s Chilton Investment Company cut the largest position of the 450+ funds we track, worth an estimated $6 million in stock.. Eric D. Hovde’s fund, Hovde Capital, also dropped its stock, about $5 million worth. These moves are important to note, as aggregate hedge fund interest was cut by 4 funds last quarter.

Insider trading activity in NVR, Inc. (NYSE:NVR)

Insider trading activity, especially when it’s bullish, is at its handiest when the company we’re looking at has seen transactions within the past half-year. Over the latest six-month time period, NVR, Inc. (NYSE:NVR) has experienced zero unique insiders buying, and 7 insider sales (see the details of insider trades here).

With the results demonstrated by Insider Monkey’s time-tested strategies, everyday investors should always watch hedge fund and insider trading activity, and NVR, Inc. (NYSE:NVR) is an important part of this process.

Click here to learn more about Insider Monkey’s Hedge Fund Newsletter

Insider Monkey’s small-cap strategy returned 29.2% between September 2012 and February 2013 versus 8.7% for the S&P 500 index. Try it now by clicking the link above.

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