LIN TV Corp (NYSE:TVL) has experienced an increase in hedge fund sentiment of late.
At the moment, there are plenty of metrics investors can use to watch publicly traded companies. Two of the most under-the-radar are hedge fund and insider trading movement. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the best hedge fund managers can trounce the market by a very impressive margin (see just how much).
Just as important, optimistic insider trading activity is another way to break down the stock market universe. As the old adage goes: there are a variety of motivations for an upper level exec to drop shares of his or her company, but just one, very clear reason why they would buy. Plenty of empirical studies have demonstrated the useful potential of this strategy if you understand what to do (learn more here).
Now, it’s important to take a glance at the latest action encompassing LIN TV Corp (NYSE:TVL).
Hedge fund activity in LIN TV Corp (NYSE:TVL)
In preparation for this quarter, a total of 11 of the hedge funds we track were long in this stock, a change of 22% from the previous quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists a few key hedge fund managers who were boosting their stakes substantially.
According to our comprehensive database, GAMCO Investors, managed by Mario Gabelli, holds the most valuable position in LIN TV Corp (NYSE:TVL). GAMCO Investors has a $19 million position in the stock, comprising 0.1% of its 13F portfolio. On GAMCO Investors’s heels is Millennium Management, managed by Israel Englander, which held a $4.1 million position; less than 0.1%% of its 13F portfolio is allocated to the stock. Other hedge funds with similar optimism include Jim Simons’s Renaissance Technologies, Ken Griffin’s Citadel Investment Group and Glenn Russell Dubin’s Highbridge Capital Management.
With a general bullishness amongst the heavyweights, key hedge funds have been driving this bullishness. Highbridge Capital Management, managed by Glenn Russell Dubin, created the most outsized position in LIN TV Corp (NYSE:TVL). Highbridge Capital Management had 2.2 million invested in the company at the end of the quarter. Mike Vranos’s Ellington also made a $0.4 million investment in the stock during the quarter. The other funds with new positions in the stock are D. E. Shaw’s D E Shaw and Cliff Asness’s AQR Capital Management.
What have insiders been doing with LIN TV Corp (NYSE:TVL)?
Bullish insider trading is most useful when the company in question has experienced transactions within the past six months. Over the latest six-month time frame, LIN TV Corp (NYSE:TVL) has experienced zero unique insiders buying, and 6 insider sales (see the details of insider trades here).
Let’s go over hedge fund and insider activity in other stocks similar to LIN TV Corp (NYSE:TVL). These stocks are Entravision Communication (NYSE:EVC), Central European Media Enterprises Ltd. (NASDAQ:CETV), Fisher Communications, Inc. (NASDAQ:FSCI), Belo Corp. (NYSE:BLC), and Nexstar Broadcasting Group, Inc. (NASDAQ:NXST). This group of stocks belong to the broadcasting – tv industry and their market caps match TVL’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Entravision Communication (NYSE:EVC) | 7 | 0 | 5 |
| Central European Media Enterprises Ltd. (NASDAQ:CETV) | 9 | 0 | 0 |
| Fisher Communications, Inc. (NASDAQ:FSCI) | 8 | 4 | 2 |
| Belo Corp. (NYSE:BLC) | 16 | 0 | 4 |
| Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) | 21 | 1 | 9 |
With the results exhibited by our strategies, everyday investors should always keep an eye on hedge fund and insider trading sentiment, and LIN TV Corp (NYSE:TVL) is an important part of this process.
