Is Ingram Micro Inc. (NYSE:IM) ready to rally soon? The best stock pickers are in an optimistic mood. The number of long hedge fund positions rose by 1 in recent months.
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Equally as important, bullish insider trading activity is another way to break down the financial markets. Just as you’d expect, there are many motivations for a corporate insider to drop shares of his or her company, but only one, very obvious reason why they would buy. Many academic studies have demonstrated the market-beating potential of this tactic if you understand what to do (learn more here).
With all of this in mind, let’s take a gander at the recent action encompassing Ingram Micro Inc. (NYSE:IM).
What have hedge funds been doing with Ingram Micro Inc. (NYSE:IM)?
In preparation for this quarter, a total of 18 of the hedge funds we track were bullish in this stock, a change of 6% from the previous quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists a few noteworthy hedge fund managers who were increasing their stakes substantially.
As one would reasonably expect, key money managers have jumped into Ingram Micro Inc. (NYSE:IM) headfirst. Balyasny Asset Management, managed by Dmitry Balyasny, assembled the most valuable call position in Ingram Micro Inc. (NYSE:IM). Balyasny Asset Management had 1.9 million invested in the company at the end of the quarter. Matthew Tewksbury’s Stevens Capital Management also initiated a $0.7 million position during the quarter.
What do corporate executives and insiders think about Ingram Micro Inc. (NYSE:IM)?
Insider purchases made by high-level executives is best served when the primary stock in question has seen transactions within the past half-year. Over the latest six-month time frame, Ingram Micro Inc. (NYSE:IM) has seen zero unique insiders purchasing, and 11 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 Ingram Micro Inc. (NYSE:IM). These stocks are Peerless Systems Corp. (NASDAQ:PRLS), SED International Holdings, Inc. (NYSEAMEX:SED), Wayside Technology Group, Inc. (NASDAQ:WSTG), Navarre Corporation (NASDAQ:NAVR), and Tech Data Corp (NASDAQ:TECD). This group of stocks are the members of the computers wholesale industry and their market caps resemble IM’s market cap.
