Orbitz Worldwide, Inc. (NYSE:OWW) investors: listen up.
To the average investor, there are many metrics market participants can use to monitor publicly traded companies. Two of the most underrated are hedge fund and insider trading activity. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the top investment managers can outpace their index-focused peers by a superb amount (see just how much).
Just as necessary, bullish insider trading sentiment is another way to look at the investments you’re interested in. As the old adage goes: there are many motivations for a bullish insider to cut shares of his or her company, but just one, very clear reason why they would behave bullishly. Many academic studies have demonstrated the impressive potential of this method if “monkeys” understand what to do (learn more here).
What’s more, it’s important to study the newest info about Orbitz Worldwide, Inc. (NYSE:OWW).
Hedge fund activity in Orbitz Worldwide, Inc. (NYSE:OWW)
In preparation for the third quarter, a total of 16 of the hedge funds we track held long positions in this stock, a change of 33% from the previous quarter. With hedge funds’ capital changing hands, there exists an “upper tier” of notable hedge fund managers who were upping their holdings significantly.
According to our 13F database, Paul Reeder and Edward Shapiro’s PAR Capital Management had the biggest position in Orbitz Worldwide, Inc. (NYSE:OWW), worth close to $197.6 million, comprising 5.5% of its total 13F portfolio. On PAR Capital Management’s heels is D. E. Shaw of D E Shaw, with a $23.4 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Some other peers that hold long positions include Israel Englander’s Millennium Management, Glenn Russell Dubin’s Highbridge Capital Management and Jim Simons’s Renaissance Technologies.
Consequently, certain bigger names were leading the bulls’ herd. PAR Capital Management, managed by Paul ReederáandáEdward Shapiro, established the most outsized position in Orbitz Worldwide, Inc. (NYSE:OWW). PAR Capital Management had 197.6 million invested in the company at the end of the quarter. D. E. Shaw’s D E Shaw also made a $23.4 million investment in the stock during the quarter. The other funds with new positions in the stock are Israel Englander’s Millennium Management, Glenn Russell Dubin’s Highbridge Capital Management, and Jim Simons’s Renaissance Technologies.
How have insiders been trading Orbitz Worldwide, Inc. (NYSE:OWW)?
Insider buying made by high-level executives is best served when the company in question has experienced transactions within the past six months. Over the latest 180-day time frame, Orbitz Worldwide, Inc. (NYSE:OWW) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).
We’ll also review the relationship between both of these indicators in other stocks similar to Orbitz Worldwide, Inc. (NYSE:OWW). These stocks are Carnival plc (ADR) (NYSE:CUK), Six Flags Entertainment Corp (NYSE:SIX), Premier Exhibitions, Inc. (NASDAQ:PRXI), Cedar Fair, L.P. (NYSE:FUN), and MakeMyTrip Limited (NASDAQ:MMYT). This group of stocks belong to the general entertainment industry and their market caps match OWW’s market cap.