Are you crazy about Sprint Nextel Corporation (NYSE:S)? One group of investors is.
In the 21st century investor’s toolkit, there are a multitude of methods market participants can use to watch Mr. Market. Two of the most under-the-radar are hedge fund and insider trading interest. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the top hedge fund managers can trounce the broader indices by a significant amount (see just how much).
Just as crucial, bullish insider trading sentiment is a second way to analyze the world of equities. There are a number of incentives for an upper level exec to drop shares of his or her company, but just one, very simple reason why they would behave bullishly. Many empirical studies have demonstrated the valuable potential of this tactic if piggybackers understand what to do (learn more here).
Furthermore, let’s examine the latest info for Sprint Nextel Corporation (NYSE:S).
What does the smart money think about Sprint Nextel Corporation (NYSE:S)?
At the end of the second quarter, a total of 54 of the hedge funds we track were long in this stock, a change of 6% from the previous quarter. With hedgies’ capital changing hands, there exists a few noteworthy hedge fund managers who were upping their holdings considerably.
According to our 13F database, Paulson & Co, managed by John Paulson, holds the biggest position in Sprint Nextel Corporation (NYSE:S). Paulson & Co has a $1.404 billion position in the stock, comprising 9.9% of its 13F portfolio. Coming in second is Leon Cooperman of Omega Advisors, with a $667.7 million position; 10.2% of its 13F portfolio is allocated to the stock. Some other hedgies that hold long positions include Matthew Halbower’s Pentwater Capital Management, James Dinan’s York Capital Management and Daniel S. Och’s OZ Management.
With a general bullishness amongst the titans, certain money managers have jumped into Sprint Nextel Corporation (NYSE:S) headfirst. Paulson & Co, managed by John Paulson, assembled the largest position in Sprint Nextel Corporation (NYSE:S). Paulson & Co had 1.404 billion invested in the company at the end of the quarter. Leon Cooperman’s Omega Advisors also initiated a $667.7 million position during the quarter. The other funds with brand new S positions are Matthew Halbower’s Pentwater Capital Management, James Dinan’s York Capital Management, and Daniel S. Och’s OZ Management.
Insider trading activity in Sprint Nextel Corporation (NYSE:S)
Bullish insider trading is most useful when the company in question has seen transactions within the past six months. Over the latest 180-day time frame, Sprint Nextel Corporation (NYSE:S) has seen 1 unique insiders buying, and 6 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 Sprint Nextel Corporation (NYSE:S). These stocks are Rogers Communications Inc. (USA) (NYSE:RCI), Turkcell Iletisim Hizmetleri A.S. (ADR) (NYSE:TKC), VimpelCom Ltd (ADR) (NYSE:VIP), TELUS Corporation (USA) (NYSE:TU), and Mobile TeleSystems OJSC (ADR) (NYSE:MBT). This group of stocks belong to the wireless communications industry and their market caps resemble S’s market cap.
