Spartan Motors Inc (NASDAQ:SPAR) was in 6 hedge funds’ portfolio at the end of the fourth quarter of 2012. SPAR shareholders have witnessed an increase in support from the world’s most elite money managers lately. There were 5 hedge funds in our database with SPAR positions at the end of the previous quarter.
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Just as integral, bullish insider trading activity is another way to parse down the stock market universe. Just as you’d expect, there are a number of reasons for an insider to downsize shares of his or her company, but only one, very simple reason why they would initiate a purchase. Various academic studies have demonstrated the impressive potential of this strategy if investors understand what to do (learn more here).
Consequently, it’s important to take a peek at the recent action surrounding Spartan Motors Inc (NASDAQ:SPAR).
What does the smart money think about Spartan Motors Inc (NASDAQ:SPAR)?
At year’s end, a total of 6 of the hedge funds we track were long in this stock, a change of 20% from the previous quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists a select group of key hedge fund managers who were increasing their stakes meaningfully.
According to our comprehensive database, Royce & Associates, managed by Chuck Royce, holds the most valuable position in Spartan Motors Inc (NASDAQ:SPAR). Royce & Associates has a $3 million position in the stock, comprising less than 0.1%% of its 13F portfolio. On Royce & Associates’s heels is GAMCO Investors, managed by Mario Gabelli, which held a $1.4 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Other hedge funds that are bullish include Peter Algert and Kevin Coldiron’s Algert Coldiron Investors, Israel Englander’s Millennium Management and D. E. Shaw’s D E Shaw.
Now, some big names have been driving this bullishness. Millennium Management, managed by Israel Englander, established the most outsized position in Spartan Motors Inc (NASDAQ:SPAR). Millennium Management had 0.2 million invested in the company at the end of the quarter.
What do corporate executives and insiders think about Spartan Motors Inc (NASDAQ:SPAR)?
Insider trading activity, especially when it’s bullish, is at its handiest when the primary stock in question has seen transactions within the past half-year. Over the latest 180-day time frame, Spartan Motors Inc (NASDAQ:SPAR) has experienced zero unique insiders purchasing, and 1 insider sales (see the details of insider trades here).
Let’s also take a look at hedge fund and insider activity in other stocks similar to Spartan Motors Inc (NASDAQ:SPAR). These stocks are Navistar International Corp (NYSE:NAV), Hyster-Yale Materials Handling Inc (NYSE:HY), Wabash National Corporation (NYSE:WNC), Supreme Industries, Inc. (NYSEAMEX:STS), and Accuride Corporation (NYSE:ACW). This group of stocks belong to the trucks & other vehicles industry and their market caps resemble SPAR’s market cap.