Is it smart to be bullish on Atlantic Tele-Network, Inc. (NASDAQ:ATNI)?
In today’s marketplace, there are plenty of gauges investors can use to track publicly traded companies. A duo of the best are hedge fund and insider trading activity. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the top fund managers can outclass the broader indices by a superb margin (see just how much).
Just as crucial, positive insider trading activity is another way to look at the marketplace. Obviously, there are a variety of incentives for a corporate insider to drop shares of his or her company, but only one, very obvious reason why they would buy. Many academic studies have demonstrated the useful potential of this strategy if piggybackers understand where to look (learn more here).
Furthermore, we're going to analyze the recent info for Atlantic Tele-Network, Inc. (NASDAQ:ATNI).
In preparation for the third quarter, a total of 8 of the hedge funds we track were bullish in this stock, a change of 0% from one quarter earlier. With the smart money's positions undergoing their usual ebb and flow, there exists a select group of key hedge fund managers who were boosting their holdings meaningfully.
When using filings from the hedgies we track, Royce & Associates, managed by Chuck Royce, holds the biggest position in Atlantic Tele-Network, Inc. (NASDAQ:ATNI). Royce & Associates has a $14.1 million position in the stock, comprising less than 0.1%% of its 13F portfolio. Coming in second is Renaissance Technologies, managed by Jim Simons, which held a $8.3 million position; less than 0.1%% of its 13F portfolio is allocated to the company. Remaining hedge funds that are bullish include D. E. Shaw's D E Shaw, Peter Algert and Kevin Coldiron's Algert Coldiron Investors and Joel Greenblatt's Gotham Asset Management.
Insider buying made by high-level executives is particularly usable when the company in question has experienced transactions within the past six months. Over the latest half-year time period, Atlantic Tele-Network, Inc. (NASDAQ:ATNI) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
We'll go over the relationship between both of these indicators in other stocks similar to Atlantic Tele-Network, Inc. (NASDAQ:ATNI). These stocks are magicJack VocalTec Ltd (NASDAQ:CALL), Shenandoah Telecommunications Company (NASDAQ:SHEN), EarthLink, Inc. (NASDAQ:ELNK), Cincinnati Bell Inc. (NYSE:CBB), and Consolidated Communications Holdings Inc (NASDAQ:CNSL). This group of stocks are in the telecom services - domestic industry and their market caps resemble ATNI's market cap.