Is Angie’s List Inc (NASDAQ:ANGI) a good investment?
In the 21st century investor’s toolkit, there are many metrics shareholders can use to monitor Mr. Market. A couple of the most innovative are hedge fund and insider trading interest. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the best hedge fund managers can beat the S&P 500 by a solid margin (see just how much).
Just as useful, bullish insider trading sentiment is a second way to look at the world of equities. Just as you’d expect, there are a variety of stimuli for a corporate insider to downsize shares of his or her company, but just one, very clear reason why they would buy. Several empirical studies have demonstrated the useful potential of this method if “monkeys” understand what to do (learn more here).
What’s more, we’re going to analyze the latest info about Angie’s List Inc (NASDAQ:ANGI).
What does the smart money think about Angie’s List Inc (NASDAQ:ANGI)?
Heading into Q3, a total of 15 of the hedge funds we track were long in this stock, a change of 25% from the previous quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists an “upper tier” of notable hedge fund managers who were boosting their stakes considerably.
When using filings from the hedgies we track, Drew Cupps’s Cupps Capital Management had the largest position in Angie’s List Inc (NASDAQ:ANGI), worth close to $39.6 million, accounting for 3.2% of its total 13F portfolio. Sitting at the No. 2 spot is Columbus Circle Investors, managed by Donald Chiboucis, which held a $30.9 million position; 0.2% of its 13F portfolio is allocated to the stock. Other hedgies that hold long positions include George Soros’s Soros Fund Management, Paul Reeder and Edward Shapiro’s PAR Capital Management and Eric Semler’s TCS Capital Management.
Now, specific money managers were leading the bulls’ herd. Cupps Capital Management, managed by Drew Cupps, assembled the most outsized position in Angie’s List Inc (NASDAQ:ANGI). Cupps Capital Management had 39.6 million invested in the company at the end of the quarter. Donald Chiboucis’s Columbus Circle Investors also made a $30.9 million investment in the stock during the quarter. The other funds with brand new ANGI positions are George Soros’s Soros Fund Management, Paul Reeder and Edward Shapiro’s PAR Capital Management, and Eric Semler’s TCS Capital Management.
How have insiders been trading Angie’s List Inc (NASDAQ:ANGI)?
Insider buying made by high-level executives is most useful when the company in focus has seen transactions within the past 180 days. Over the latest half-year time period, Angie’s List Inc (NASDAQ:ANGI) has experienced zero unique insiders buying, 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 Angie’s List Inc (NASDAQ:ANGI). These stocks are J2 Global Inc (NASDAQ:JCOM), Demand Media Inc (NYSE:DMD), ExactTarget Inc (NYSE:ET), VirnetX Holding Corporation (NYSEAMEX:VHC), and DealerTrack Technologies Inc (NASDAQ:TRAK). This group of stocks belong to the internet software & services industry and their market caps resemble ANGI’s market cap.
