Altra Holdings, Inc. (NASDAQ:AIMC) has experienced an increase in support from the world’s most elite money managers of late.
To the average investor, there are dozens of methods market participants can use to monitor the equity markets. Some of the most useful are hedge fund and insider trading sentiment. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the top fund managers can outclass the market by a superb margin (see just how much).
Equally as important, positive insider trading activity is a second way to break down the world of equities. Just as you’d expect, there are plenty of incentives for an executive to downsize shares of his or her company, but only one, very simple reason why they would buy. Various empirical studies have demonstrated the impressive potential of this tactic if you understand where to look (learn more here).
Keeping this in mind, we’re going to take a glance at the key action encompassing Altra Holdings, Inc. (NASDAQ:AIMC).
How are hedge funds trading Altra Holdings, Inc. (NASDAQ:AIMC)?
At year’s end, a total of 9 of the hedge funds we track were bullish in this stock, a change of 350% from the previous quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists an “upper tier” of noteworthy hedge fund managers who were increasing their holdings considerably.
Of the funds we track, Gotham Asset Management, managed by Joel Greenblatt, holds the largest position in Altra Holdings, Inc. (NASDAQ:AIMC). Gotham Asset Management has a $1.7 million position in the stock, comprising 0.1% of its 13F portfolio. Coming in second is Catapult Capital Management, managed by Israel Englander, which held a $1.6 million position; the fund has 0.8% of its 13F portfolio invested in the stock. Other peers that hold long positions include Cliff Asness’s AQR Capital Management, Jim Simons’s Renaissance Technologies and Alexander Mitchell’s Scopus Asset Management.
As industrywide interest jumped, some big names have jumped into Altra Holdings, Inc. (NASDAQ:AIMC) headfirst. Catapult Capital Management, managed by Israel Englander, created the most valuable position in Altra Holdings, Inc. (NASDAQ:AIMC). Catapult Capital Management had 1.6 million invested in the company at the end of the quarter. Cliff Asness’s AQR Capital Management also made a $0.9 million investment in the stock during the quarter. The other funds with new positions in the stock are Jim Simons’s Renaissance Technologies, Alexander Mitchell’s Scopus Asset Management, and John Overdeck and David Siegel’s Two Sigma Advisors.
Insider trading activity in Altra Holdings, Inc. (NASDAQ:AIMC)
Insider purchases made by high-level executives is most useful when the company in focus has seen transactions within the past half-year. Over the latest six-month time period, Altra Holdings, Inc. (NASDAQ:AIMC) has seen zero unique insiders buying, and 3 insider sales (see the details of insider trades here).
Let’s go over hedge fund and insider activity in other stocks similar to Altra Holdings, Inc. (NASDAQ:AIMC). These stocks are OSI Systems, Inc. (NASDAQ:OSIS), Daktronics, Inc. (NASDAQ:DAKT), GrafTech International Ltd (NYSE:GTI), Powell Industries, Inc. (NASDAQ:POWL), and Hollysys Automation Technologies Ltd (NASDAQ:HOLI). All of these stocks are in the industrial electrical equipment industry and their market caps resemble AIMC’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| OSI Systems, Inc. (NASDAQ:OSIS) | 17 | 0 | 0 |
| Daktronics, Inc. (NASDAQ:DAKT) | 10 | 0 | 2 |
| GrafTech International Ltd (NYSE:GTI) | 21 | 2 | 2 |
| Powell Industries, Inc. (NASDAQ:POWL) | 6 | 1 | 4 |
| Hollysys Automation Technologies Ltd (NASDAQ:HOLI) | 5 | 0 | 0 |
With the results shown by our tactics, retail investors must always keep an eye on hedge fund and insider trading sentiment, and Altra Holdings, Inc. (NASDAQ:AIMC) shareholders fit into this picture quite nicely.
