Is Cash America International, Inc. (NYSE:CSH) a healthy stock for your portfolio? Money managers are turning less bullish. The number of long hedge fund positions were trimmed by 3 recently.
To the average investor, there are dozens of metrics investors can use to watch Mr. Market. A pair of the most useful are hedge fund and insider trading interest. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the best hedge fund managers can beat the broader indices by a solid margin (see just how much).
Equally as integral, optimistic insider trading sentiment is another way to parse down the stock market universe. There are many incentives for an executive to cut shares of his or her company, but only one, very obvious reason why they would buy. Many empirical studies have demonstrated the valuable potential of this strategy if piggybackers know where to look (learn more here).
With all of this in mind, we’re going to take a gander at the key action encompassing Cash America International, Inc. (NYSE:CSH).
Hedge fund activity in Cash America International, Inc. (NYSE:CSH)
Heading into Q2, a total of 11 of the hedge funds we track were long in this stock, a change of -21% from the previous quarter. With the smart money’s capital changing hands, there exists a few noteworthy hedge fund managers who were boosting their holdings significantly.
According to our comprehensive database, Cardinal Capital, managed by Amy Minella, holds the biggest position in Cash America International, Inc. (NYSE:CSH). Cardinal Capital has a $49.1 million position in the stock, comprising 3.1% of its 13F portfolio. Sitting at the No. 2 spot is Peter S. Park of Park West Asset Management, with a $39.3 million position; 4.4% of its 13F portfolio is allocated to the company. Some other hedgies that are bullish include Jim Simons’s Renaissance Technologies, D. E. Shaw’s D E Shaw and Jay Petschek and Steven Major’s Corsair Capital Management.
Due to the fact that Cash America International, Inc. (NYSE:CSH) has witnessed a declination in interest from hedge fund managers, logic holds that there is a sect of funds that slashed their entire stakes in Q1. At the top of the heap, Andy Redleaf’s Whitebox Advisors sold off the biggest position of all the hedgies we monitor, valued at about $1 million in stock., and Israel Englander of Millennium Management was right behind this move, as the fund sold off about $0.8 million worth. These moves are intriguing to say the least, as total hedge fund interest dropped by 3 funds in Q1.
How are insiders trading Cash America International, Inc. (NYSE:CSH)?
Insider purchases made by high-level executives is particularly usable when the primary stock in question has experienced transactions within the past six months. Over the latest half-year time period, Cash America International, Inc. (NYSE:CSH) has experienced zero unique insiders buying, and 4 insider sales (see the details of insider trades here).
Let’s also examine hedge fund and insider activity in other stocks similar to Cash America International, Inc. (NYSE:CSH). These stocks are World Acceptance Corp. (NASDAQ:WRLD), CapitalSource, Inc. (NYSE:CSE), PHH Corporation (NYSE:PHH), First Cash Financial Services, Inc. (NASDAQ:FCFS), and Nelnet, Inc. (NYSE:NNI). This group of stocks belong to the credit services industry and their market caps are closest to CSH’s market cap.