Navistar International Corp (NYSE:NAV) was in 18 hedge funds’ portfolio at the end of December. NAV investors should pay attention to an increase in enthusiasm from smart money of late. There were 13 hedge funds in our database with NAV holdings at the end of the previous quarter.
In the financial world, there are many gauges shareholders can use to analyze publicly traded companies. A pair of the most useful are hedge fund and insider trading interest. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the top hedge fund managers can outpace the broader indices by a significant amount (see just how much).
Equally as beneficial, optimistic insider trading sentiment is another way to break down the financial markets. Just as you’d expect, there are a number of incentives for an executive to cut shares of his or her company, but just one, very obvious reason why they would behave bullishly. Several academic studies have demonstrated the useful potential of this method if shareholders know what to do (learn more here).
Keeping this in mind, we’re going to take a glance at the key action encompassing Navistar International Corp (NYSE:NAV).
What does the smart money think about Navistar International Corp (NYSE:NAV)?
At year’s end, a total of 18 of the hedge funds we track held long positions in this stock, a change of 38% from one quarter earlier. With the smart money’s positions undergoing their usual ebb and flow, there exists an “upper tier” of key hedge fund managers who were increasing their holdings considerably.
According to our comprehensive database, Icahn Capital LP, managed by Carl Icahn, holds the biggest position in Navistar International Corp (NYSE:NAV). Icahn Capital LP has a $257.9 million position in the stock, comprising 2% of its 13F portfolio. On Icahn Capital LP’s heels is GAMCO Investors, managed by Mario Gabelli, which held a $97.2 million position; 0.7% of its 13F portfolio is allocated to the stock. Some other hedge funds with similar optimism include Ken Griffin’s Citadel Investment Group, Anand Parekh’s Alyeska Investment Group and Jim Simons’s Renaissance Technologies.
Consequently, some big names have been driving this bullishness. Alyeska Investment Group, managed by Anand Parekh, established the most outsized position in Navistar International Corp (NYSE:NAV). Alyeska Investment Group had 19.9 million invested in the company at the end of the quarter. Jim Simons’s Renaissance Technologies also made a $15.5 million investment in the stock during the quarter. The following funds were also among the new NAV investors: Bruce Kovner’s Caxton Associates LP, James Dondero’s Highland Capital Management, and Neil Chriss’s Hutchin Hill Capital.
How have insiders been trading Navistar International Corp (NYSE:NAV)?
Insider purchases made by high-level executives is particularly usable when the company in question has experienced transactions within the past half-year. Over the last half-year time frame, Navistar International Corp (NYSE:NAV) has experienced 3 unique insiders buying, and 1 insider sales (see the details of insider trades here).
Let’s check out hedge fund and insider activity in other stocks similar to Navistar International Corp (NYSE:NAV). These stocks are Accuride Corporation (NYSE:ACW), PACCAR Inc (NASDAQ:PCAR), Wabash National Corporation (NYSE:WNC), Hyster-Yale Materials Handling Inc (NYSE:HY), and Oshkosh Corporation (NYSE:OSK). All of these stocks are in the trucks & other vehicles industry and their market caps are similar to NAV’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Accuride Corporation (NYSE:ACW) | 7 | 2 | 1 |
| PACCAR Inc (NASDAQ:PCAR) | 20 | 0 | 3 |
| Wabash National Corporation (NYSE:WNC) | 13 | 0 | 1 |
| Hyster-Yale Materials Handling Inc (NYSE:HY) | 11 | 2 | 0 |
| Oshkosh Corporation (NYSE:OSK) | 20 | 1 | 8 |
With the returns demonstrated by Insider Monkey’s strategies, everyday investors must always watch hedge fund and insider trading activity, and Navistar International Corp (NYSE:NAV) is an important part of this process.
