Is Embraer SA (ADR) (NYSE:ERJ) a buy right now? Investors who are in the know are buying. The number of long hedge fund bets went up by 2 lately.
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Now, it’s important to take a gander at the latest action encompassing Embraer SA (ADR) (NYSE:ERJ).
How have hedgies been trading Embraer SA (ADR) (NYSE:ERJ)?
Heading into Q2, a total of 11 of the hedge funds we track held long positions in this stock, a change of 22% from one quarter earlier. With hedge funds’ sentiment swirling, there exists an “upper tier” of noteworthy hedge fund managers who were increasing their holdings substantially.
According to our comprehensive database, Ken Fisher’s Fisher Asset Management had the biggest position in Embraer SA (ADR) (NYSE:ERJ), worth close to $43.6 million, comprising 0.1% of its total 13F portfolio. The second largest stake is held by Ken Griffin of Citadel Investment Group, with a $23.5 million position; less than 0.1%% of its 13F portfolio is allocated to the stock. Other hedgies that hold long positions include Michael Messner’s Seminole Capital (Investment Mgmt), Rob Citrone’s Discovery Capital Management and Israel Englander’s Millennium Management.
Consequently, key hedge funds have been driving this bullishness. Seminole Capital (Investment Mgmt), managed by Michael Messner, created the most valuable position in Embraer SA (ADR) (NYSE:ERJ). Seminole Capital (Investment Mgmt) had 22.5 million invested in the company at the end of the quarter. Israel Englander’s Millennium Management also made a $10.5 million investment in the stock during the quarter. The other funds with brand new ERJ positions are Phill Gross and Robert Atchinson’s Adage Capital Management, Matthew Hulsizer’s PEAK6 Capital Management, and Bruce Kovner’s Caxton Associates LP.
How have insiders been trading Embraer SA (ADR) (NYSE:ERJ)?
Bullish insider trading is particularly usable when the company we’re looking at has seen transactions within the past 180 days. Over the last half-year time period, Embraer SA (ADR) (NYSE:ERJ) has experienced zero unique insiders purchasing, and zero 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 Embraer SA (ADR) (NYSE:ERJ). These stocks are Triumph Group Inc (NYSE:TGI), Rockwell Collins, Inc. (NYSE:COL), TransDigm Group Incorporated (NYSE:TDG), L-3 Communications Holdings, Inc. (NYSE:LLL), and B/E Aerospace Inc (NASDAQ:BEAV). This group of stocks are in the aerospace/defense products & services industry and their market caps are similar to ERJ’s market cap.