Should Navigant Consulting, Inc. (NYSE:NCI) investors track the following data?
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Now that that’s out of the way, it’s important to study the recent info for Navigant Consulting, Inc. (NYSE:NCI).
What does the smart money think about Navigant Consulting, Inc. (NYSE:NCI)?
Heading into Q3, a total of 11 of the hedge funds we track held long positions in this stock, a change of -21% from the previous quarter. With hedgies’ capital changing hands, there exists an “upper tier” of notable hedge fund managers who were boosting their holdings substantially.
As Navigant Consulting, Inc. (NYSE:NCI) has faced declining interest from the top-tier hedge fund industry, we can see that there were a few hedgies who were dropping their positions entirely last quarter. It’s worth mentioning that Israel Englander’s Millennium Management dropped the biggest investment of all the hedgies we key on, totaling an estimated $1.7 million in stock. Neil Chriss’s fund, Hutchin Hill Capital, also cut its stock, about $0.6 million worth. These bearish behaviors are interesting, as aggregate hedge fund interest fell by 3 funds last quarter.
How are insiders trading Navigant Consulting, Inc. (NYSE:NCI)?
Insider buying is most useful when the primary stock in question has seen transactions within the past six months. Over the last 180-day time period, Navigant Consulting, Inc. (NYSE:NCI) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
We’ll also take a look at the relationship between both of these indicators in other stocks similar to Navigant Consulting, Inc. (NYSE:NCI). These stocks are Huron Consulting Group (NASDAQ:HURN), Resources Connection, Inc. (NASDAQ:RECN), ICF International Inc (NASDAQ:ICFI), Wageworks Inc (NYSE:WAGE), and Exponent, Inc. (NASDAQ:EXPO). This group of stocks are in the management services industry and their market caps are closest to NCI’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Huron Consulting Group (NASDAQ:HURN) | 11 | 0 | 0 |
| Resources Connection, Inc. (NASDAQ:RECN) | 10 | 0 | 0 |
| ICF International Inc (NASDAQ:ICFI) | 13 | 0 | 0 |
| Wageworks Inc (NYSE:WAGE) | 11 | 0 | 0 |
| Exponent, Inc. (NASDAQ:EXPO) | 5 | 0 | 0 |
Using the returns shown by Insider Monkey’s analyses, average investors should always pay attention to hedge fund and insider trading sentiment, and Navigant Consulting, Inc. (NYSE:NCI) applies perfectly to this mantra.
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Recommended reading:
Navigant Consulting, Inc. (NCI): Are Hedge Funds Right About This Stock?
