Is Park Electrochemical Corp. (PKE) Still A Buy As It Misses First Fiscal Quarter Earnings?

Let’s take a look at insider activity on Park Electrochemical Corp. (NYSE:PKE). There have been no insider sales during the last couple of months, but there have been several purchases. Among the insiders, Steven Warshaw, a director of Park Electrochemical Corp. (NYSE:PKE),  purchased 250 shares in January and COO Christopher Mastrogiacomo purchased 1,000 shares in May.

With all of this in mind, let’s analyze the latest hedge fund activity on Park Electrochemical Corp. (NYSE:PKE).

Hedge fund activity in Park Electrochemical Corp. (NYSE:PKE)

When looking at the hedge funds followed by Insider Monkey, Chuck Royce‘s Royce & Associates holds the largest position in Park Electrochemical Corp. (NYSE:PKE), with 2.07 million shares worth close to $44.7 million, comprising 0.16% of its total 13F portfolio. Following Royce & Associates’ is Mario Gabelli’s GAMCO Investors, with 652,000 shares valued at $14.06 million at the end of first quarter. Some other members of the smart money that are bullish on Park Electrochemical include Jim Simons’ Renaissance Technologies, Ken Gray and Steve Walsh’s Bryn Mawr Capital, and John Overdeck and David Siegel’s Two Sigma Advisors.

The declining interest of hedge funds in Park Electrochemical Corp. (NYSE:PKE) indicates that some hedge fund managers have opted to sell all of their stake in the company in the first quarter. Leading the way is Israel Englander‘s Millennium Management, which sold 14,422 shares during the first three months of 2015, while Gavin Saitowitz and Cisco J. Del Valle’s Springbok Capital closed its stake that contained 1,400 shares.

With this in mind, even though Park Electrochemical Corp. (NYSE:PKE) has witnessed some insider purchases in the last couple of months, their small size, combined with a moderate interest from hedge funds and declining earnings in the last fiscal quarter suggest that it is not the right time to buy the stock at the moment.

Disclosure: None