Is it smart to be bullish on J&J Snack Foods Corp. (NASDAQ:JJSF)?
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Just as crucial, optimistic insider trading sentiment is another way to analyze the marketplace. Obviously, there are a variety of motivations for an executive to sell shares of his or her company, but just one, very obvious reason why they would behave bullishly. Many empirical studies have demonstrated the impressive potential of this tactic if piggybackers know what to do (learn more here).
What’s more, we’re going to discuss the newest info surrounding J&J Snack Foods Corp. (NASDAQ:JJSF).
Hedge fund activity in J&J Snack Foods Corp. (NASDAQ:JJSF)
In preparation for the third quarter, a total of 13 of the hedge funds we track held long positions in this stock, a change of 30% from one quarter earlier. With hedge funds’ capital changing hands, there exists a few key hedge fund managers who were boosting their stakes considerably.
When using filings from the hedgies we track, Chuck Royce’s Royce & Associates had the largest position in J&J Snack Foods Corp. (NASDAQ:JJSF), worth close to $48.5 million, comprising 0.1% of its total 13F portfolio. On Royce & Associates’s heels is Third Avenue Management, managed by Martin Whitman, which held a $20.6 million position; 0.4% of its 13F portfolio is allocated to the stock. Remaining peers that hold long positions include Jim Simons’s Renaissance Technologies, Ken Fisher’s Fisher Asset Management and Mario Gabelli’s GAMCO Investors.
As one would understandably expect, particular hedge funds have been driving this bullishness. Royce & Associates, managed by Chuck Royce, established the most outsized position in J&J Snack Foods Corp. (NASDAQ:JJSF). Royce & Associates had 48.5 million invested in the company at the end of the quarter. Martin Whitman’s Third Avenue Management also initiated a $20.6 million position during the quarter. The other funds with brand new JJSF positions are Jim Simons’s Renaissance Technologies, Ken Fisher’s Fisher Asset Management, and Mario Gabelli’s GAMCO Investors.
How are insiders trading J&J Snack Foods Corp. (NASDAQ:JJSF)?
Bullish insider trading is particularly usable when the primary stock in question has seen transactions within the past six months. Over the latest 180-day time period, J&J Snack Foods Corp. (NASDAQ:JJSF) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
We’ll also take a look at the relationship between both of these indicators in other stocks similar to J&J Snack Foods Corp. (NASDAQ:JJSF). These stocks are The Hain Celestial Group, Inc. (NASDAQ:HAIN), Gruma S.A.B. de C.V. (ADR) (NYSE:GMK), TreeHouse Foods Inc. (NYSE:THS), Snyder S Lance Inc (NASDAQ:LNCE), and B&G Foods, Inc. (NYSE:BGS). This group of stocks belong to the processed & packaged goods industry and their market caps resemble JJSF’s market cap.