Is Roadrunner Transportation Systems Inc (NYSE:RRTS) a buy, sell, or hold? The best stock pickers are becoming hopeful. The number of bullish hedge fund bets rose by 4 in recent months.
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Consequently, it’s important to take a peek at the latest action surrounding Roadrunner Transportation Systems Inc (NYSE:RRTS).
Hedge fund activity in Roadrunner Transportation Systems Inc (NYSE:RRTS)
At the end of the first quarter, a total of 13 of the hedge funds we track held long positions in this stock, a change of 44% from the first quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists a select group of notable hedge fund managers who were upping their stakes meaningfully.
According to our comprehensive database, Cardinal Capital, managed by Amy Minella, holds the biggest position in Roadrunner Transportation Systems Inc (NYSE:RRTS). Cardinal Capital has a $15.2 million position in the stock, comprising 0.9% of its 13F portfolio. Coming in second is Scopus Asset Management, managed by Alexander Mitchell, which held a $7.6 million position; the fund has 0.2% of its 13F portfolio invested in the stock. Other peers that are bullish include Richard S. Meisenberg’s ACK Asset Management, D. E. Shaw’s D E Shaw and Ken Griffin’s Citadel Investment Group.
As aggregate interest increased, key hedge funds were breaking ground themselves. Scopus Asset Management, managed by Alexander Mitchell, assembled the biggest position in Roadrunner Transportation Systems Inc (NYSE:RRTS). Scopus Asset Management had 7.6 million invested in the company at the end of the quarter. Mark Broach’s Manatuck Hill Partners also made a $1.6 million investment in the stock during the quarter. The following funds were also among the new RRTS investors: Israel Englander’s Catapult Capital Management, Steven Cohen’s SAC Capital Advisors, and John Overdeck and David Siegel’s Two Sigma Advisors.
How have insiders been trading Roadrunner Transportation Systems Inc (NYSE:RRTS)?
Insider buying is at its handiest when the company in question has experienced transactions within the past six months. Over the latest half-year time period, Roadrunner Transportation Systems Inc (NYSE:RRTS) has seen zero unique insiders buying, and 4 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 Roadrunner Transportation Systems Inc (NYSE:RRTS). These stocks are XPO Logistics Inc (NYSE:XPO), Air Transport Services Group Inc. (NASDAQ:ATSG), UTi Worldwide Inc. (NASDAQ:UTIW), Hub Group Inc (NASDAQ:HUBG), and Forward Air Corporation (NASDAQ:FWRD). This group of stocks belong to the air delivery & freight services industry and their market caps are closest to RRTS’s market cap.