Lindsay Corporation (NYSE:LNN) was in 16 hedge funds’ portfolio at the end of December. LNN has seen an increase in hedge fund sentiment lately. There were 14 hedge funds in our database with LNN holdings at the end of the previous quarter.
In the financial world, there are many indicators investors can use to watch publicly traded companies. Some of the most underrated are hedge fund and insider trading activity. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the top money managers can trounce the S&P 500 by a very impressive margin (see just how much).
Just as important, optimistic insider trading activity is another way to break down the financial markets. Obviously, there are a variety of stimuli for a corporate insider to get rid of shares of his or her company, but only one, very clear reason why they would behave bullishly. Several academic studies have demonstrated the valuable potential of this tactic if investors know what to do (learn more here).
Consequently, it’s important to take a peek at the key action surrounding Lindsay Corporation (NYSE:LNN).
What does the smart money think about Lindsay Corporation (NYSE:LNN)?
In preparation for this year, a total of 16 of the hedge funds we track were long in this stock, a change of 14% from the third quarter. With the smart money’s capital changing hands, there exists a few key hedge fund managers who were upping their stakes significantly.
According to our comprehensive database, Royce & Associates, managed by Chuck Royce, holds the largest position in Lindsay Corporation (NYSE:LNN). Royce & Associates has a $21 million position in the stock, comprising 0.1% of its 13F portfolio. Coming in second is Renaissance Technologies, managed by Jim Simons, which held a $15 million position; 0.2% of its 13F portfolio is allocated to the stock. Remaining hedge funds that hold long positions include Michael Kaufman’s MAK Capital One, Mario Gabelli’s GAMCO Investors and Richard Driehaus’s Driehaus Capital.
As one would reasonably expect, some big names were leading the bulls’ herd. Driehaus Capital, managed by Richard Driehaus, assembled the most valuable position in Lindsay Corporation (NYSE:LNN). Driehaus Capital had 6 million invested in the company at the end of the quarter. Neil Chriss’s Hutchin Hill Capital also made a $1 million investment in the stock during the quarter. The other funds with new positions in the stock are Joel Greenblatt’s Gotham Asset Management, Ken Gray and Steve Walsh’s Bryn Mawr Capital, and Steven Cohen’s SAC Capital Advisors.
What do corporate executives and insiders think about Lindsay Corporation (NYSE:LNN)?
Insider purchases made by high-level executives is most useful when the primary stock in question has experienced transactions within the past half-year. Over the last half-year time frame, Lindsay Corporation (NYSE:LNN) has experienced zero unique insiders purchasing, and 5 insider sales (see the details of insider trades here).
With the results demonstrated by the aforementioned strategies, retail investors must always watch hedge fund and insider trading activity, and Lindsay Corporation (NYSE:LNN) applies perfectly to this mantra.
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