Cresud S.A.C.I.F. y A. (ADR) (NASDAQ:CRESY) was in 5 hedge funds’ portfolio at the end of the first quarter of 2013. CRESY investors should be aware of a decrease in hedge fund sentiment of late. There were 6 hedge funds in our database with CRESY holdings at the end of the previous quarter.
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Just as beneficial, bullish insider trading sentiment is another way to parse down the marketplace. As the old adage goes: there are a number of incentives for a bullish insider to downsize shares of his or her company, but only one, very clear reason why they would initiate a purchase. Plenty of empirical studies have demonstrated the valuable potential of this tactic if piggybackers understand what to do (learn more here).
Consequently, we’re going to take a peek at the latest action regarding Cresud S.A.C.I.F. y A. (ADR) (NASDAQ:CRESY).
What have hedge funds been doing with Cresud S.A.C.I.F. y A. (ADR) (NASDAQ:CRESY)?
Heading into Q2, a total of 5 of the hedge funds we track held long positions in this stock, a change of -17% from the previous quarter. With hedgies’ capital changing hands, there exists an “upper tier” of noteworthy hedge fund managers who were upping their stakes significantly.
Because Cresud S.A.C.I.F. y A. (ADR) (NASDAQ:CRESY) has witnessed declining sentiment from hedge fund managers, we can see that there lies a certain “tier” of fund managers that decided to sell off their entire stakes last quarter. At the top of the heap, Murray Stahl’s Horizon Asset Management said goodbye to the largest position of the 450+ funds we track, totaling an estimated $0.6 million in stock. These bearish behaviors are intriguing to say the least, as aggregate hedge fund interest was cut by 1 funds last quarter.
How are insiders trading Cresud S.A.C.I.F. y A. (ADR) (NASDAQ:CRESY)?
Insider buying is at its handiest when the primary stock in question has seen transactions within the past six months. Over the last half-year time frame, Cresud S.A.C.I.F. y A. (ADR) (NASDAQ:CRESY) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
Let’s check out hedge fund and insider activity in other stocks similar to Cresud S.A.C.I.F. y A. (ADR) (NASDAQ:CRESY). These stocks are Adecoagro SA (NYSE:AGRO), Limoneira Company (NASDAQ:LMNR), Alico, Inc. (NASDAQ:ALCO), Chiquita Brands International, Inc. (NYSE:CQB), and Calavo Growers, Inc. (NASDAQ:CVGW). This group of stocks belong to the farm products industry and their market caps resemble CRESY’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Adecoagro SA (NYSE:AGRO) | 7 | 0 | 0 |
| Limoneira Company (NASDAQ:LMNR) | 5 | 1 | 4 |
| Alico, Inc. (NASDAQ:ALCO) | 4 | 0 | 1 |
| Chiquita Brands International, Inc. (NYSE:CQB) | 13 | 1 | 4 |
| Calavo Growers, Inc. (NASDAQ:CVGW) | 6 | 0 | 3 |
With the returns shown by Insider Monkey’s research, everyday investors must always watch hedge fund and insider trading sentiment, and Cresud S.A.C.I.F. y A. (ADR) (NASDAQ:CRESY) shareholders fit into this picture quite nicely.
