In the financial world, there are tons of metrics market participants can use to analyze the equity markets. A couple of the most useful are hedge fund and insider trading interest. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the best money managers can beat the broader indices by a solid margin (see just how much).
Just as useful, positive insider trading sentiment is another way to analyze the financial markets. Just as you'd expect, there are plenty of reasons for an insider to get rid of shares of his or her company, but only one, very obvious reason why they would behave bullishly. Various academic studies have demonstrated the valuable potential of this strategy if "monkeys" know what to do (learn more here).
What's more, it's important to study the recent info about CBS Corporation (NYSE:CBS).
At the end of the second quarter, a total of 67 of the hedge funds we track were long in this stock, a change of 3% from the previous quarter. With hedge funds' capital changing hands, there exists a select group of key hedge fund managers who were increasing their stakes considerably.
Out of the hedge funds we follow, Coatue Management, managed by Philippe Laffont, holds the biggest position in CBS Corporation (NYSE:CBS). Coatue Management has a $705.7 million position in the stock, comprising 7.8% of its 13F portfolio. On Coatue Management's heels is Point State Capital, managed by Sean Cullinan, which held a $467.7 million position; 8.1% of its 13F portfolio is allocated to the company. Remaining hedge funds that hold long positions include Daniel S. Och's OZ Management, Keith Meister's Corvex Capital and William B. Gray's Orbis Investment Management.
With a general bullishness amongst the titans, certain bigger names have been driving this bullishness. Coatue Management, managed by Philippe Laffont, assembled the most valuable position in CBS Corporation (NYSE:CBS). Coatue Management had 705.7 million invested in the company at the end of the quarter. Sean Cullinan's Point State Capital also initiated a $467.7 million position during the quarter. The other funds with new positions in the stock are Daniel S. Och's OZ Management, Keith Meister's Corvex Capital, and William B. Gray's Orbis Investment Management.
Insider buying made by high-level executives is best served when the company in focus has seen transactions within the past half-year. Over the last six-month time period, CBS Corporation (NYSE:CBS) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).
Using the returns shown by our research, regular investors should always track hedge fund and insider trading sentiment, and CBS Corporation (NYSE:CBS) applies perfectly to this mantra.