To the average investor, there are tons of methods market participants can use to track the equity markets. Some of the most underrated are hedge fund and insider trading movement. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the top investment managers can trounce the market by a significant amount (see just how much).
Equally as useful, positive insider trading activity is a second way to look at the stock market universe. As the old adage goes: there are plenty of stimuli for an executive to downsize shares of his or her company, but just one, very obvious reason why they would buy. Many empirical studies have demonstrated the valuable potential of this strategy if investors know what to do (learn more here).
Now that that’s out of the way, it’s important to analyze the latest info surrounding Aegion Corp – Class A (NASDAQ:AEGN).
How are hedge funds trading Aegion Corp – Class A (NASDAQ:AEGN)?
At the end of the second quarter, a total of 9 of the hedge funds we track were bullish in this stock, a change of -18% from the first quarter. With hedgies’ sentiment swirling, there exists a few notable hedge fund managers who were increasing their holdings meaningfully.
#N/A
Because Aegion Corp – Class A (NASDAQ:AEGN) has experienced dropping sentiment from the smart money’s best and brightest, it’s safe to say that there exists a select few fund managers that elected to cut their positions entirely at the end of the second quarter. Interestingly, John I. Dickerson’s Summit Global Management dropped the biggest stake of the “upper crust” of funds we key on, worth about $5.2 million in stock. Amy Minella’s fund, Cardinal Capital, also dumped its stock, about $2.1 million worth. These transactions are important to note, as total hedge fund interest fell by 2 funds at the end of the second quarter.
What have insiders been doing with Aegion Corp – Class A (NASDAQ:AEGN)?
Legal insider trading, particularly when it’s bullish, is most useful when the primary stock in question has experienced transactions within the past 180 days. Over the last six-month time frame, Aegion Corp – Class A (NASDAQ:AEGN) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).
We’ll also examine the relationship between both of these indicators in other stocks similar to Aegion Corp – Class A (NASDAQ:AEGN). These stocks are Layne Christensen Company (NASDAQ:LAYN), Dycom Industries, Inc. (NYSE:DY), Granite Construction Inc. (NYSE:GVA), Primoris Services Corp (NASDAQ:PRIM), and Tutor Perini Corp (NYSE:TPC). This group of stocks belong to the heavy construction industry and their market caps are closest to AEGN’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Layne Christensen Company (NASDAQ:LAYN) | 6 | 0 | 0 |
| Dycom Industries, Inc. (NYSE:DY) | 12 | 0 | 0 |
| Granite Construction Inc. (NYSE:GVA) | 12 | 0 | 0 |
| Primoris Services Corp (NASDAQ:PRIM) | 12 | 0 | 0 |
| Tutor Perini Corp (NYSE:TPC) | 8 | 0 | 0 |
Using the results demonstrated by Insider Monkey’s studies, regular investors must always track hedge fund and insider trading activity, and Aegion Corp – Class A (NASDAQ:AEGN) is no exception.
