Angie’s List Inc (NASDAQ:ANGI) investors should be aware of an increase in hedge fund sentiment lately.
In today’s marketplace, there are a multitude of methods shareholders can use to watch publicly traded companies. Some of the most underrated are hedge fund and insider trading movement. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the best money managers can outpace their index-focused peers by a very impressive amount (see just how much).
Just as key, bullish insider trading activity is another way to parse down the investments you’re interested in. Obviously, there are a number of reasons for an executive to drop shares of his or her company, but only one, very obvious reason why they would behave bullishly. Several empirical studies have demonstrated the valuable potential of this method if “monkeys” understand what to do (learn more here).
With these “truths” under our belt, we’re going to take a glance at the latest action regarding Angie’s List Inc (NASDAQ:ANGI).
What have hedge funds been doing with Angie’s List Inc (NASDAQ:ANGI)?
In preparation for this year, a total of 9 of the hedge funds we track were bullish in this stock, a change of 29% from one quarter earlier. With hedgies’ capital changing hands, there exists a few key hedge fund managers who were boosting their stakes meaningfully.
According to our comprehensive database, Eric Semler’s TCS Capital Management had the largest position in Angie’s List Inc (NASDAQ:ANGI), worth close to $14 million, accounting for 8.6% of its total 13F portfolio. The second largest stake is held by Paul Tudor Jones of Tudor Investment Corp, with a $12 million position; 0.4% of its 13F portfolio is allocated to the company. Remaining hedge funds that are bullish include George Soros’s Soros Fund Management, John Murphy’s Alydar Capital and Paul Tudor Jones’s Tudor Investment Corp.
With a general bullishness amongst the heavyweights, key hedge funds were leading the bulls’ herd. Alydar Capital, managed by John Murphy, established the biggest position in Angie’s List Inc (NASDAQ:ANGI). Alydar Capital had 5 million invested in the company at the end of the quarter. Lisa Rapuano’s Lane Five Capital also initiated a $0 million position during the quarter. The following funds were also among the new ANGI investors: David Costen Haley’s HBK Investments and Israel Englander’s Millennium Management.
What have insiders been doing with Angie’s List Inc (NASDAQ:ANGI)?
Insider purchases made by high-level executives is best served when the company in question has experienced transactions within the past half-year. Over the latest six-month time period, Angie’s List Inc (NASDAQ:ANGI) has experienced zero unique insiders purchasing, and 5 insider sales (see the details of insider trades here).
Let’s also review hedge fund and insider activity 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). All of these stocks are in the internet software & services industry and their market caps are similar to ANGI’s market cap.