Is Global Cash Access Holdings, Inc. (NYSE:GCA) a good investment?
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Now that that’s out of the way, we’re going to analyze the newest info surrounding Global Cash Access Holdings, Inc. (NYSE:GCA).
How have hedgies been trading Global Cash Access Holdings, Inc. (NYSE:GCA)?
Heading into Q3, a total of 14 of the hedge funds we track held long positions in this stock, a change of -26% from one quarter earlier. With the smart money’s capital changing hands, there exists an “upper tier” of key hedge fund managers who were boosting their stakes considerably.
When using filings from the hedgies we track, Private Capital Management, managed by Gregg J. Powers, holds the most valuable position in Global Cash Access Holdings, Inc. (NYSE:GCA). Private Capital Management has a $15.8 million position in the stock, comprising 1.5% of its 13F portfolio. Sitting at the No. 2 spot is D E Shaw, managed by D. E. Shaw, which held a $10.2 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Remaining hedgies with similar optimism include Jim Simons’s Renaissance Technologies, Amy Minella’s Cardinal Capital and Israel Englander’s Millennium Management.
Since Global Cash Access Holdings, Inc. (NYSE:GCA) has witnessed dropping sentiment from the top-tier hedge fund industry, it’s easy to see that there was a specific group of hedge funds that decided to sell off their positions entirely heading into Q2. It’s worth mentioning that Gregory A. Weaver’s Invicta Capital Management dumped the biggest stake of all the hedgies we watch, totaling about $9.9 million in stock. David Dreman’s fund, Dreman Value Management, also dropped its stock, about $5.9 million worth. These bearish behaviors are important to note, as total hedge fund interest was cut by 5 funds heading into Q2.
What do corporate executives and insiders think about Global Cash Access Holdings, Inc. (NYSE:GCA)?
Legal insider trading, particularly when it’s bullish, is best served when the company in question has seen transactions within the past six months. Over the last 180-day time frame, Global Cash Access Holdings, Inc. (NYSE:GCA) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
We’ll check out the relationship between both of these indicators in other stocks similar to Global Cash Access Holdings, Inc. (NYSE:GCA). These stocks are Medallion Financial Corp (NASDAQ:TAXI), DFC Global Corp (NASDAQ:DLLR), Federal Agricultural Mortgage Corp. (NYSE:AGM), NewStar Financial Inc (NASDAQ:NEWS), and Fifth Street Finance Corp. (NASDAQ:FSC). This group of stocks are in the credit services industry and their market caps are similar to GCA’s market cap.
