Is Empresas ICA SA (ADR) (NYSE:ICA) a buy right now? Money managers are taking a bullish view. The number of long hedge fund bets went up by 1 in recent months.
In the financial world, there are many methods shareholders can use to analyze publicly traded companies. A duo of the most under-the-radar are hedge fund and insider trading activity. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the elite hedge fund managers can beat the S&P 500 by a solid amount (see just how much).
Equally as beneficial, optimistic insider trading sentiment is another way to break down the marketplace. Just as you’d expect, there are a number of motivations for an executive to sell shares of his or her company, but just one, very obvious reason why they would initiate a purchase. Various academic studies have demonstrated the impressive potential of this method if investors know where to look (learn more here).
Consequently, let’s take a gander at the recent action encompassing Empresas ICA SA (ADR) (NYSE:ICA).
How have hedgies been trading Empresas ICA SA (ADR) (NYSE:ICA)?
At year’s end, a total of 6 of the hedge funds we track were long in this stock, a change of 20% from the previous quarter. With hedge funds’ sentiment swirling, there exists a select group of noteworthy hedge fund managers who were boosting their holdings considerably.
When looking at the hedgies we track, Israel Englander’s Millennium Management had the largest position in Empresas ICA SA (ADR) (NYSE:ICA), worth close to $1.4 million, comprising less than 0.1%% of its total 13F portfolio. The second largest stake is held by Robert B. Gillam of McKinley Capital Management, with a $1.4 million position; 0.1% of its 13F portfolio is allocated to the stock. Some other hedge funds that are bullish include Jim Simons’s Renaissance Technologies, Ken Griffin’s Citadel Investment Group and D. E. Shaw’s D E Shaw.
As aggregate interest increased, key money managers were leading the bulls’ herd. Ellington, managed by Mike Vranos, assembled the biggest position in Empresas ICA SA (ADR) (NYSE:ICA). Ellington had 0.2 million invested in the company at the end of the quarter.
How have insiders been trading Empresas ICA SA (ADR) (NYSE:ICA)?
Insider purchases made by high-level executives is most useful when the primary stock in question has seen transactions within the past half-year. Over the latest 180-day time period, Empresas ICA SA (ADR) (NYSE:ICA) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).
Let’s also review hedge fund and insider activity in other stocks similar to Empresas ICA SA (ADR) (NYSE:ICA). These stocks are Primoris Services Corp (NASDAQ:PRIM), Granite Construction Inc. (NYSE:GVA), McDermott International (NYSE:MDR), Foster Wheeler AG (NASDAQ:FWLT), and MasTec, Inc. (NYSE:MTZ). This group of stocks are in the heavy construction industry and their market caps resemble ICA’s market cap.