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Hedge Funds Are Selling AirMedia Group Inc (ADR) (AMCN)

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AirMedia Group Inc (ADR) (NASDAQ:AMCN) was in 5 hedge funds’ portfolio at the end of the fourth quarter of 2012. AMCN shareholders have witnessed a decrease in hedge fund sentiment lately. There were 6 hedge funds in our database with AMCN holdings at the end of the previous quarter.

AirMedia Group Inc (ADR) (NASDAQ:AMCN)In the 21st century investor’s toolkit, there are tons of methods investors can use to monitor their holdings. Some of the most innovative are hedge fund and insider trading movement. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the elite fund managers can trounce the market by a superb margin (see just how much).

Just as integral, optimistic insider trading activity is a second way to break down the marketplace. There are a number of reasons for an insider to get rid of shares of his or her company, but only one, very simple reason why they would buy. Several empirical studies have demonstrated the impressive potential of this method if “monkeys” know what to do (learn more here).

Now, we’re going to take a peek at the latest action encompassing AirMedia Group Inc (ADR) (NASDAQ:AMCN).

How have hedgies been trading AirMedia Group Inc (ADR) (NASDAQ:AMCN)?

Heading into 2013, a total of 5 of the hedge funds we track were long in this stock, a change of -17% from one quarter earlier. With hedgies’ capital changing hands, there exists a few notable hedge fund managers who were increasing their stakes meaningfully.

When looking at the hedgies we track, Driehaus Capital, managed by Richard Driehaus, holds the most valuable position in AirMedia Group Inc (ADR) (NASDAQ:AMCN). Driehaus Capital has a $2.7 million position in the stock, comprising 0.1% of its 13F portfolio. Sitting at the No. 2 spot is Charles Clough of Clough Capital Partners, with a $2.3 million position; 0.1% of its 13F portfolio is allocated to the stock. Some other hedge funds that are bullish include Jim Simons’s Renaissance Technologies, Hugh Sloane’s Sloane Robinson Investment Management and D. E. Shaw’s D E Shaw.

Seeing as AirMedia Group Inc (ADR) (NASDAQ:AMCN) has witnessed a declination in interest from the smart money, it’s safe to say that there is a sect of money managers that slashed their full holdings last quarter. It’s worth mentioning that Jane Mendillo’s Harvard Management Co dropped the largest position of the “upper crust” of funds we track, comprising close to $0.1 million in stock. These bearish behaviors are intriguing to say the least, as total hedge fund interest fell by 1 funds last quarter.

What do corporate executives and insiders think about AirMedia Group Inc (ADR) (NASDAQ:AMCN)?

Insider trading activity, especially when it’s bullish, is best served when the company in focus has seen transactions within the past 180 days. Over the latest six-month time period, AirMedia Group Inc (ADR) (NASDAQ:AMCN) has experienced zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).

Let’s also take a look at hedge fund and insider activity in other stocks similar to AirMedia Group Inc (ADR) (NASDAQ:AMCN). These stocks are Harte-Hanks, Inc. (NYSE:HHS), Insignia Systems, Inc. (NASDAQ:ISIG), Constant Contact Inc (NASDAQ:CTCT), Marchex, Inc. (NASDAQ:MCHX), and Dex One Corporation (NYSE:DEXO). All of these stocks are in the marketing services industry and their market caps match AMCN’s market cap.

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