Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Hedge Funds Are Buying American Tower Corp (AMT)

Page 1 of 2

A market correction in the third quarter, spurred by a number of global macroeconomic concerns ended up having a negative impact on the markets and many hedge funds as a result. The stocks of smaller companies were especially hard hit during this time as investors fled to investments seen as being safer. This is evident in the fact that the Russell 2000 ETF underperformed the S&P 500 ETF by 14 percentage points between June 25 and the end of October. We also received indications that hedge funds were trimming their positions amid the market volatility and uncertainty, and given their greater inclination towards smaller cap stocks than other investors, it follows that a stronger sell-off occurred in those stocks. Let’s study the hedge fund sentiment to see how those concerns affected their ownership of American Tower Corp (NYSE:AMT) during the quarter.

American Tower Corp (NYSE:AMT) has experienced an increase in enthusiasm from smart money lately. American Tower Corp (NYSE:AMT) was in 42 hedge funds’ portfolios at the end of the third quarter of 2015. There were 39 hedge funds in our database with American Tower Corp (NYSE:AMT) holdings at the end of the previous quarter. At the end of this article, we will also compare American Tower Corp (NYSE:AMT) to other stocks, including Deutsche Bank AG (USA) (NYSE:DB), Anthem Inc (NYSE:ANTM), and Public Storage (NYSE:PSA) to get a better sense of its popularity.

Follow American Tower Corp (NYSE:AMT)
Trade (NYSE:AMT) Now!

In the 21st century investor’s toolkit, there are plenty of gauges stock traders have at their disposal to size up their holdings. A pair of the most useful gauges are hedge fund and insider trading indicators. We have shown that, historically, those who follow the best picks of the top money managers can outperform the S&P 500 by a superb amount (see the details here).

Now, let’s take a peek at the recent action surrounding American Tower Corp (NYSE:AMT).

How have hedgies been trading American Tower Corp (NYSE:AMT)?

At the end of the third quarter, a total of 42 of the hedge funds tracked by Insider Monkey held long positions in this stock, an increase of 8% from the second quarter. With the smart money’s sentiment swirling, there exists a select group of notable hedge fund managers who were upping their stakes meaningfully (or already accumulated large positions).

According to Insider Monkey’s hedge fund database, Charles Akre’s Akre Capital Management has the most valuable position in American Tower Corp (NYSE:AMT), worth close to $554.6 million, accounting for 12.9% of its total 13F portfolio. On Akre Capital Management’s heels is Highfields Capital Management, managed by Jonathon Jacobson, which holds a $292.3 million position; the fund has 2.6% of its 13F portfolio invested in the stock. Remaining peers that hold long positions comprise Doug Silverman and Alexander Klabin’s Senator Investment Group, Philippe Laffont’s Coatue Management, and Farallon Capital.

Page 1 of 2

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...
X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!