Partner Communications Company Ltd (ADR) (NASDAQ:PTNR) investors should pay attention to an increase in activity from the world’s largest hedge funds of late.
To the average investor, there are tons of methods investors can use to monitor Mr. Market. A duo of the most under-the-radar are hedge fund and insider trading movement. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the top hedge fund managers can trounce the broader indices by a significant margin (see just how much).
Just as integral, positive insider trading sentiment is another way to break down the marketplace. Obviously, there are lots of reasons for a corporate insider to drop shares of his or her company, but just one, very simple reason why they would initiate a purchase. Plenty of empirical studies have demonstrated the useful potential of this method if piggybackers know what to do (learn more here).
Keeping this in mind, we’re going to take a peek at the latest action surrounding Partner Communications Company Ltd (ADR) (NASDAQ:PTNR).
What does the smart money think about Partner Communications Company Ltd (ADR) (NASDAQ:PTNR)?
At the end of the fourth quarter, a total of 7 of the hedge funds we track were bullish in this stock, a change of 75% from one quarter earlier. With the smart money’s capital changing hands, there exists a few notable hedge fund managers who were increasing their holdings substantially.
Of the funds we track, Renaissance Technologies, managed by Jim Simons, holds the biggest position in Partner Communications Company Ltd (ADR) (NASDAQ:PTNR). Renaissance Technologies has a $12.1 million position in the stock, comprising less than 0.1%% of its 13F portfolio. Sitting at the No. 2 spot is D E Shaw, managed by D. E. Shaw, which held a $0.3 million position; less than 0.1%% of its 13F portfolio is allocated to the company. Other hedge funds that hold long positions include Israel Englander’s Millennium Management, John Overdeck and David Siegel’s Two Sigma Advisors and Ken Griffin’s Citadel Investment Group.
With a general bullishness amongst the heavyweights, key money managers were breaking ground themselves. Millennium Management, managed by Israel Englander, created the most outsized position in Partner Communications Company Ltd (ADR) (NASDAQ:PTNR). Millennium Management had 0.2 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also made a $0.2 million investment in the stock during the quarter. The following funds were also among the new PTNR investors: Steven Cohen’s SAC Capital Advisors and Thomas Bailard’s Bailard Inc.
How have insiders been trading Partner Communications Company Ltd (ADR) (NASDAQ:PTNR)?
Insider trading activity, especially when it’s bullish, is most useful when the company in focus has experienced transactions within the past 180 days. Over the last six-month time frame, Partner Communications Company Ltd (ADR) (NASDAQ:PTNR) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).
Let’s also review hedge fund and insider activity in other stocks similar to Partner Communications Company Ltd (ADR) (NASDAQ:PTNR). These stocks are Leap Wireless International, Inc. (NASDAQ:LEAP), InterDigital, Inc. (NASDAQ:IDCC), NII Holdings, Inc. (NASDAQ:NIHD), Ubiquiti Networks Inc (NASDAQ:UBNT), and Cellcom Israel Ltd. (NYSE:CEL). This group of stocks are in the wireless communications industry and their market caps match PTNR’s market cap.