Partner Communications Company Ltd (ADR) (NASDAQ:PTNR) shareholders have witnessed a decrease in hedge fund sentiment of late.
In the 21st century investor’s toolkit, there are dozens of metrics shareholders can use to analyze the equity markets. A duo of the most underrated are hedge fund and insider trading sentiment. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the best money managers can trounce the market by a solid amount (see just how much).
Just as integral, positive insider trading sentiment is another way to break down the marketplace. Just as you’d expect, there are many stimuli for an executive to get rid of shares of his or her company, but only one, very obvious reason why they would buy. Various academic studies have demonstrated the useful potential of this method if you understand what to do (learn more here).
With these “truths” under our belt, it’s important to take a gander at the latest action regarding Partner Communications Company Ltd (ADR) (NASDAQ:PTNR).
Hedge fund activity in Partner Communications Company Ltd (ADR) (NASDAQ:PTNR)
Heading into Q2, a total of 5 of the hedge funds we track were bullish in this stock, a change of -29% from one quarter earlier. With hedgies’ positions undergoing their usual ebb and flow, there exists an “upper tier” of key hedge fund managers who were upping their holdings considerably.
When looking at the hedgies we track, Renaissance Technologies, managed by Jim Simons, holds the most valuable position in Partner Communications Company Ltd (ADR) (NASDAQ:PTNR). Renaissance Technologies has a $12.9 million position in the stock, comprising less than 0.1%% of its 13F portfolio. On Renaissance Technologies’s heels is D E Shaw, managed by D. E. Shaw, which held a $0.5 million position; less than 0.1%% of its 13F portfolio is allocated to the company. Some other hedgies that hold long positions include Ken Griffin’s Citadel Investment Group, John Overdeck and David Siegel’s Two Sigma Advisors and Israel Englander’s Millennium Management.
Because Partner Communications Company Ltd (ADR) (NASDAQ:PTNR) has witnessed falling interest from hedge fund managers, logic holds that there lies a certain “tier” of fund managers who sold off their positions entirely last quarter. Intriguingly, Steven Cohen’s SAC Capital Advisors sold off the largest investment of the “upper crust” of funds we monitor, comprising close to $0.1 million in stock.. Thomas Bailard’s fund, Bailard Inc, also dumped its stock, about $0.1 million worth. These moves are intriguing to say the least, as aggregate hedge fund interest dropped by 2 funds last quarter.
What have insiders been doing with Partner Communications Company Ltd (ADR) (NASDAQ:PTNR)?
Insider trading activity, especially when it’s bullish, is at its handiest when the company in focus has seen transactions within the past half-year. Over the last half-year time period, Partner Communications Company Ltd (ADR) (NASDAQ:PTNR) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
Let’s also review hedge fund and insider activity in other stocks similar to Partner Communications Company Ltd (ADR) (NASDAQ:PTNR). These stocks are Leap Wireless International, Inc. (NASDAQ:LEAP), InterDigital, Inc. (NASDAQ:IDCC), NII Holdings, Inc. (NASDAQ:NIHD), Ubiquiti Networks Inc (NASDAQ:UBNT), and Cellcom Israel Ltd. (NYSE:CEL). All of these stocks are in the wireless communications industry and their market caps resemble PTNR’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Leap Wireless International, Inc. (NASDAQ:LEAP) | 14 | 0 | 4 |
| InterDigital, Inc. (NASDAQ:IDCC) | 16 | 0 | 4 |
| NII Holdings, Inc. (NASDAQ:NIHD) | 12 | 0 | 0 |
| Ubiquiti Networks Inc (NASDAQ:UBNT) | 8 | 0 | 6 |
| Cellcom Israel Ltd. (NYSE:CEL) | 4 | 0 | 0 |
With the results demonstrated by the aforementioned studies, retail investors should always monitor hedge fund and insider trading activity, and Partner Communications Company Ltd (ADR) (NASDAQ:PTNR) shareholders fit into this picture quite nicely.
