Hedge Funds Are Crazy About Outdoor Channel Holdings, Inc. (OUTD)

Is Outdoor Channel Holdings, Inc. (NASDAQ:OUTD) an excellent investment right now? The best stock pickers are taking a bullish view. The number of long hedge fund positions improved by 2 in recent months.

At the moment, there are dozens of methods investors can use to track their holdings. Some of the most useful are hedge fund and insider trading interest. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the best money managers can beat the broader indices by a very impressive margin (see just how much).

Just as integral, bullish insider trading sentiment is a second way to parse down the world of equities. Just as you’d expect, there are a number of motivations for a bullish insider to get rid of shares of his or her company, but just one, very clear reason why they would initiate a purchase. Many academic studies have demonstrated the valuable potential of this strategy if you know what to do (learn more here).

With these “truths” under our belt, we’re going to take a glance at the latest action encompassing Outdoor Channel Holdings, Inc. (NASDAQ:OUTD).

Hedge fund activity in Outdoor Channel Holdings, Inc. (NASDAQ:OUTD)

In preparation for this quarter, a total of 6 of the hedge funds we track were long in this stock, a change of 50% from one quarter earlier. With hedge funds’ capital changing hands, there exists a few key hedge fund managers who were boosting their stakes considerably.

Of the funds we track, Millennium Management, managed by Israel Englander, holds the most valuable position in Outdoor Channel Holdings, Inc. (NASDAQ:OUTD). Millennium Management has a $4.6 million position in the stock, comprising less than 0.1%% of its 13F portfolio. On Millennium Management’s heels is J. Carlo Cannell of Cannell Capital, with a $2.5 million position; 1.6% of its 13F portfolio is allocated to the stock. Some other hedge funds that are bullish include Jim Simons’s Renaissance Technologies, Cliff Asness’s AQR Capital Management and Paul Touradji’s TOURADJI CAPITAL MANAGEMENT, LP.

Now, key hedge funds were leading the bulls’ herd. AQR Capital Management, managed by Cliff Asness, created the most valuable position in Outdoor Channel Holdings, Inc. (NASDAQ:OUTD). AQR Capital Management had 0.9 million invested in the company at the end of the quarter. Paul Touradji’s TOURADJI CAPITAL MANAGEMENT LP also initiated a $0.3 million position during the quarter. The only other fund with a new position in the stock is Paul Glazer’s Glazer Capital.

How are insiders trading Outdoor Channel Holdings, Inc. (NASDAQ:OUTD)?

Insider buying is best served when the company we’re looking at has seen transactions within the past 180 days. Over the latest 180-day time frame, Outdoor Channel Holdings, Inc. (NASDAQ:OUTD) has experienced zero unique insiders buying, 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 Outdoor Channel Holdings, Inc. (NASDAQ:OUTD). These stocks are Nexstar Broadcasting Group, Inc. (NASDAQ:NXST), Fisher Communications, Inc. (NASDAQ:FSCI), Central European Media Enterprises Ltd. (NASDAQ:CETV), Entravision Communication (NYSE:EVC), and Gray Television, Inc. (NYSE:GTN). All of these stocks are in the broadcasting – tv industry and their market caps resemble OUTD’s market cap.

With the returns demonstrated by our strategies, retail investors should always keep an eye on hedge fund and insider trading activity, and Outdoor Channel Holdings, Inc. (NASDAQ:OUTD) shareholders fit into this picture quite nicely.

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