How International Speedway Corp (ISCA) Stacks Up Against Its Peers

Seeing as International Speedway Corp (NASDAQ:ISCA) has faced bearish sentiment from the smart money, it’s easy to see that there lies a certain “tier” of fund managers who were dropping their entire stakes heading into Q4. Interestingly, Gary Claar’s Claar Advisors dropped the biggest position of the “upper crust” of funds tracked by Insider Monkey, valued at close to $2.4 million in stock, and Peter Algert and Kevin Coldiron’s Algert Coldiron Investors was right behind this move, as the fund dropped about $0.7 million worth of shares.

Let’s go over hedge fund activity in other stocks similar to International Speedway Corp (NASDAQ:ISCA). We will take a look at Premier Inc (NASDAQ:PINC), Depomed Inc (NASDAQ:DEPO), AMN Healthcare Services, Inc. (NYSE:AHS), and Summit Midstream Partners LP (NYSE:SMLP). This group of stocks’ market caps match ISCA’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
PINC 19 207165 5
DEPO 18 411369 -5
AHS 23 100020 1
SMLP 5 104970 5

As you can see these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $206 million. That figure was $181 million in ISCA’s case. AMN Healthcare Services, Inc. (NYSE:AHS) is the most popular stock in this table. On the other hand Summit Midstream Partners LP (NYSE:SMLP) is the least popular one with only 5 bullish hedge fund positions. International Speedway Corp (NASDAQ:ISCA) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard AHS might be a better candidate to consider taking a long position in.

Disclosure: none.