Is Susser Holdings Corporation (NYSE:SUSS) worth your attention right now? The smart money is getting less optimistic. The number of bullish hedge fund bets were cut by 3 recently.
In the financial world, there are many metrics market participants can use to monitor stocks. Some of the most useful are hedge fund and insider trading movement. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the top fund managers can outpace the S&P 500 by a significant amount (see just how much).
Just as important, positive insider trading activity is another way to break down the investments you’re interested in. Obviously, there are lots of motivations for an upper level exec to cut shares of his or her company, but just one, very clear reason why they would buy. Many academic studies have demonstrated the useful potential of this tactic if investors know what to do (learn more here).
Keeping this in mind, we’re going to take a glance at the recent action regarding Susser Holdings Corporation (NYSE:SUSS).
What have hedge funds been doing with Susser Holdings Corporation (NYSE:SUSS)?
At Q1’s end, a total of 17 of the hedge funds we track were long in this stock, a change of -15% from the previous quarter. With hedge funds’ capital changing hands, there exists a select group of noteworthy hedge fund managers who were upping their holdings substantially.
According to our comprehensive database, Newbrook Capital Advisors, managed by Robert Boucai, holds the largest position in Susser Holdings Corporation (NYSE:SUSS). Newbrook Capital Advisors has a $29.4 million position in the stock, comprising 3.6% of its 13F portfolio. Sitting at the No. 2 spot is Jim Simons of Renaissance Technologies, with a $26.6 million position; 0.1% of its 13F portfolio is allocated to the company. Some other peers with similar optimism include Donald Chiboucis’s Columbus Circle Investors, Abby Flamholz and Yehuda Blinder’s ADAR Investment Management and Peter S. Park’s Park West Asset Management.
Since Susser Holdings Corporation (NYSE:SUSS) has witnessed declining sentiment from the entirety of the hedge funds we track, it’s safe to say that there lies a certain “tier” of hedge funds who sold off their entire stakes at the end of the first quarter. At the top of the heap, Glenn J. Krevlin’s Glenhill Advisors dumped the biggest stake of all the hedgies we watch, totaling about $11.9 million in stock.. Michael M. Rothenberg and David Sackler’s fund, Moab Capital Partners, also cut its stock, about $9.4 million worth. These transactions are interesting, as total hedge fund interest was cut by 3 funds at the end of the first quarter.
What do corporate executives and insiders think about Susser Holdings Corporation (NYSE:SUSS)?
Bullish insider trading is at its handiest when the company in focus has experienced transactions within the past half-year. Over the latest half-year time period, Susser Holdings Corporation (NYSE:SUSS) has seen 1 unique insiders buying, and 5 insider sales (see the details of insider trades here).
Let’s also examine hedge fund and insider activity in other stocks similar to Susser Holdings Corporation (NYSE:SUSS). These stocks are The Fresh Market Inc (NASDAQ:TFM), Core-Mark Holding Company, Inc. (NASDAQ:CORE), Village Super Market, Inc. (NASDAQ:VLGEA), SUPERVALU INC. (NYSE:SVU), and Weis Markets, Inc. (NYSE:WMK). This group of stocks belong to the grocery stores industry and their market caps are similar to SUSS’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| The Fresh Market Inc (NASDAQ:TFM) | 15 | 1 | 0 |
| Core-Mark Holding Company, Inc. (NASDAQ:CORE) | 12 | 0 | 7 |
| Village Super Market, Inc. (NASDAQ:VLGEA) | 4 | 0 | 2 |
| SUPERVALU INC. (NYSE:SVU) | 34 | 0 | 1 |
| Weis Markets, Inc. (NYSE:WMK) | 8 | 0 | 0 |
With the returns shown by Insider Monkey’s research, retail investors must always keep an eye on hedge fund and insider trading activity, and Susser Holdings Corporation (NYSE:SUSS) is an important part of this process.
