Should You Buy Turkcell Iletisim Hizmetleri A.S. (ADR) (TKC)?

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Turkcell Iletisim Hizmetleri A.S. (ADR) (NYSE:TKC) shareholders have witnessed an increase in hedge fund interest lately.

Turkcell Iletisim Hizmetleri A.S. (ADR) (NYSE:TKC)

In the eyes of most stock holders, hedge funds are seen as underperforming, outdated financial tools of the past. While there are more than 8000 funds with their doors open at present, we at Insider Monkey look at the moguls of this group, about 450 funds. It is estimated that this group has its hands on the majority of the smart money’s total capital, and by paying attention to their highest performing stock picks, we have revealed a number of investment strategies that have historically beaten the S&P 500 index. Our small-cap hedge fund strategy beat the S&P 500 index by 18 percentage points a year for a decade in our back tests, and since we’ve began to sharing our picks with our subscribers at the end of August 2012, we have outclassed the S&P 500 index by 23.3 percentage points in 8 months (see the details here).

Just as integral, positive insider trading activity is another way to parse down the investments you’re interested in. Obviously, there are plenty of motivations for an executive to drop shares of his or her company, but only one, very clear reason why they would behave bullishly. Various academic studies have demonstrated the market-beating potential of this tactic if investors understand what to do (learn more here).

With these “truths” under our belt, we’re going to take a peek at the key action regarding Turkcell Iletisim Hizmetleri A.S. (ADR) (NYSE:TKC).

How are hedge funds trading Turkcell Iletisim Hizmetleri A.S. (ADR) (NYSE:TKC)?

Heading into Q2, a total of 7 of the hedge funds we track were bullish in this stock, a change of 40% from the first quarter. With the smart money’s sentiment swirling, there exists an “upper tier” of noteworthy hedge fund managers who were upping their stakes substantially.

When looking at the hedgies we track, Israel Englander’s Millennium Management had the most valuable position in Turkcell Iletisim Hizmetleri A.S. (ADR) (NYSE:TKC), worth close to $2.1 million, accounting for less than 0.1%% of its total 13F portfolio. Coming in second is Citadel Investment Group, managed by Ken Griffin, which held a $1.6 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Remaining peers with similar optimism include D. E. Shaw’s D E Shaw, Jim Simons’s Renaissance Technologies and Steven Cohen’s SAC Capital Advisors.

With a general bullishness amongst the heavyweights, key hedge funds were leading the bulls’ herd. Renaissance Technologies, managed by Jim Simons, assembled the largest position in Turkcell Iletisim Hizmetleri A.S. (ADR) (NYSE:TKC). Renaissance Technologies had 1.5 million invested in the company at the end of the quarter. Robert B. Gillam’s McKinley Capital Management also initiated a $0.7 million position during the quarter. The only other fund with a brand new TKC position is Mike Vranos’s Ellington.

What have insiders been doing with Turkcell Iletisim Hizmetleri A.S. (ADR) (NYSE:TKC)?

Insider buying is at its handiest when the company in focus has seen transactions within the past six months. Over the last 180-day time frame, Turkcell Iletisim Hizmetleri A.S. (ADR) (NYSE:TKC) has experienced zero unique insiders purchasing, 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 Turkcell Iletisim Hizmetleri A.S. (ADR) (NYSE:TKC). These stocks are Mobile TeleSystems OJSC (ADR) (NYSE:MBT), TIM Participacoes SA (ADR) (NYSE:TSU), Sprint Nextel Corporation (NYSE:S), SK Telecom Co., Ltd. (ADR) (NYSE:SKM), and VimpelCom Ltd (ADR) (NYSE:VIP). This group of stocks are the members of the wireless communications industry and their market caps are closest to TKC’s market cap.

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