Is North American Energy Partners Inc.(USA) (NYSE:NOA) a buy, sell, or hold? Money managers are turning bullish. The number of long hedge fund bets advanced by 3 recently.
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With all of this in mind, we’re going to take a gander at the recent action surrounding North American Energy Partners Inc.(USA) (NYSE:NOA).
What does the smart money think about North American Energy Partners Inc.(USA) (NYSE:NOA)?
At the end of the first quarter, a total of 10 of the hedge funds we track were long in this stock, a change of 43% from the previous quarter. With hedge funds’ capital changing hands, there exists an “upper tier” of key hedge fund managers who were increasing their stakes considerably.
As industrywide interest jumped, key hedge funds were breaking ground themselves. Wexford Capital, managed by Charles Davidson, created the most valuable position in North American Energy Partners Inc.(USA) (NYSE:NOA). Wexford Capital had 0.7 million invested in the company at the end of the quarter. John Overdeck and David Siegel’s Two Sigma Advisors also made a $0.1 million investment in the stock during the quarter. The only other fund with a brand new NOA position is Gregory Fraser Rudolph Kluiber and Timothy Krochuk’s GRT Capital Partners.
Insider trading activity in North American Energy Partners Inc.(USA) (NYSE:NOA)
Insider purchases made by high-level executives is at its handiest when the company in question has experienced transactions within the past 180 days. Over the latest half-year time frame, North American Energy Partners Inc.(USA) (NYSE:NOA) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).
Let’s also review hedge fund and insider activity in other stocks similar to North American Energy Partners Inc.(USA) (NYSE:NOA). These stocks are Dawson Geophysical Company (NASDAQ:DWSN), Natural Gas Services Group, Inc. (NYSE:NGS), TGC Industries Inc (NASDAQ:TGE), Bolt Technology Corp. (NASDAQ:BOLT), and Cal Dive International, Inc. (NYSE:DVR). This group of stocks are in the oil & gas equipment & services industry and their market caps are similar to NOA’s market cap.
