Is Ingram Micro Inc. (NYSE:IM) ready to rally soon? The best stock pickers are in an optimistic mood. The number of long hedge fund positions rose by 1 in recent months.
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With all of this in mind, let’s take a gander at the recent action encompassing Ingram Micro Inc. (NYSE:IM).
What have hedge funds been doing with Ingram Micro Inc. (NYSE:IM)?
In preparation for this quarter, a total of 18 of the hedge funds we track were bullish in this stock, a change of 6% from the previous quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists a few noteworthy hedge fund managers who were increasing their stakes substantially.
According to our comprehensive database, Anthony Bozza’s Lakewood Capital Management had the largest position in Ingram Micro Inc. (NYSE:IM), worth close to $99 million, comprising 6.6% of its total 13F portfolio. Sitting at the No. 2 spot is Charles de Vaulx of International Value Advisers, with a $91.3 million position; 2.1% of its 13F portfolio is allocated to the company. Some other hedgies with similar optimism include Martin Whitman’s Third Avenue Management, Richard S. Pzena’s Pzena Investment Management and Cliff Asness’s AQR Capital Management.
As one would reasonably expect, key money managers have jumped into Ingram Micro Inc. (NYSE:IM) headfirst. Balyasny Asset Management, managed by Dmitry Balyasny, assembled the most valuable call position in Ingram Micro Inc. (NYSE:IM). Balyasny Asset Management had 1.9 million invested in the company at the end of the quarter. Matthew Tewksbury’s Stevens Capital Management also initiated a $0.7 million position during the quarter.
What do corporate executives and insiders think about Ingram Micro Inc. (NYSE:IM)?
Insider purchases made by high-level executives is best served when the primary stock in question has seen transactions within the past half-year. Over the latest six-month time frame, Ingram Micro Inc. (NYSE:IM) has seen zero unique insiders purchasing, and 11 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 Ingram Micro Inc. (NYSE:IM). These stocks are Peerless Systems Corp. (NASDAQ:PRLS), SED International Holdings, Inc. (NYSEAMEX:SED), Wayside Technology Group, Inc. (NASDAQ:WSTG), Navarre Corporation (NASDAQ:NAVR), and Tech Data Corp (NASDAQ:TECD). This group of stocks are the members of the computers wholesale industry and their market caps resemble IM’s market cap.