Is Tractor Supply Company (NASDAQ:TSCO) a sound investment today? Money managers are in a bearish mood. The number of long hedge fund bets were cut by 1 in recent months.
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With all of this in mind, we’re going to take a gander at the latest action regarding Tractor Supply Company (NASDAQ:TSCO).
What does the smart money think about Tractor Supply Company (NASDAQ:TSCO)?
At Q1’s end, a total of 24 of the hedge funds we track were bullish in this stock, a change of -4% from the previous quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists a select group of notable hedge fund managers who were increasing their stakes substantially.
Of the funds we track, Alkeon Capital Management, managed by Panayotis Takis Sparaggis, holds the biggest position in Tractor Supply Company (NASDAQ:TSCO). Alkeon Capital Management has a $18.5 million position in the stock, comprising 0.4% of its 13F portfolio. Sitting at the No. 2 spot is GAMCO Investors, managed by Mario Gabelli, which held a $16 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Some other hedgies that are bullish include Chuck Royce’s Royce & Associates, Ken Griffin’s Citadel Investment Group and Glenn Russell Dubin’s Highbridge Capital Management.
Since Tractor Supply Company (NASDAQ:TSCO) has faced bearish sentiment from the aggregate hedge fund industry, it’s safe to say that there exists a select few hedge funds who were dropping their entire stakes in Q1. At the top of the heap, SAC Subsidiary’s Sigma Capital Management sold off the biggest position of the “upper crust” of funds we track, totaling close to $17.7 million in stock.. Robert Joseph Caruso’s fund, Select Equity Group, also dropped its stock, about $6.4 million worth. These moves are interesting, as aggregate hedge fund interest fell by 1 funds in Q1.
What do corporate executives and insiders think about Tractor Supply Company (NASDAQ:TSCO)?
Insider trading activity, especially when it’s bullish, is particularly usable when the company in question has seen transactions within the past six months. Over the last 180-day time frame, Tractor Supply Company (NASDAQ:TSCO) has seen zero unique insiders purchasing, and 8 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 Tractor Supply Company (NASDAQ:TSCO). These stocks are HSN, Inc. (NASDAQ:HSNI), Sally Beauty Holdings, Inc. (NYSE:SBH), Staples, Inc. (NASDAQ:SPLS), and PetSmart, Inc. (NASDAQ:PETM). All of these stocks are in the specialty retail, other industry and their market caps match TSCO’s market cap.
