Is FleetCor Technologies, Inc. (NYSE:FLT) a buy, sell, or hold? Money managers are becoming hopeful. The number of long hedge fund positions inched up by 10 recently.
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Consequently, let’s take a glance at the latest action encompassing FleetCor Technologies, Inc. (NYSE:FLT).
How have hedgies been trading FleetCor Technologies, Inc. (NYSE:FLT)?
Heading into Q2, a total of 35 of the hedge funds we track were long in this stock, a change of 40% from the previous quarter. With hedgies’ sentiment swirling, there exists an “upper tier” of noteworthy hedge fund managers who were boosting their holdings substantially.
As aggregate interest increased, some big names were leading the bulls’ herd. Steadfast Capital Management, managed by Robert Pitts, initiated the most outsized position in FleetCor Technologies, Inc. (NYSE:FLT). Steadfast Capital Management had 134.9 million invested in the company at the end of the quarter. Colin Hall and James Davidson’s Long Oar Global Investors also initiated a $18.7 million position during the quarter. The other funds with brand new FLT positions are John Thaler’s JAT Capital Management, Andrew Feldstein and Stephen Siderow’s Blue Mountain Capital, and Ben Levine, Andrew Manuel and Stefan Renold’s LMR Partners.
How have insiders been trading FleetCor Technologies, Inc. (NYSE:FLT)?
Insider buying is at its handiest when the primary stock in question has experienced transactions within the past 180 days. Over the latest 180-day time period, FleetCor Technologies, Inc. (NYSE:FLT) has seen zero unique insiders buying, and 19 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 FleetCor Technologies, Inc. (NYSE:FLT). These stocks are Verisk Analytics, Inc. (NASDAQ:VRSK), Global Payments Inc (NYSE:GPN), Alliance Data Systems Corporation (NYSE:ADS), Vantiv Inc (NYSE:VNTV), and Cintas Corporation (NASDAQ:CTAS). All of these stocks are in the business services industry and their market caps are similar to FLT’s market cap.
