Windstream Corporation (NASDAQ:WIN) is a widely discussed stock, but here’s one reason why the bears may win the argument for the rest of 2013.
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Keeping this in mind, it’s important to discuss the recent info surrounding Windstream Corporation (NASDAQ:WIN).
Hedge fund activity in Windstream Corporation (NASDAQ:WIN)
In preparation for the third quarter, a total of 11 of the hedge funds we track were long in this stock, a change of -31% from the first quarter. With hedgies’ capital changing hands, there exists an “upper tier” of notable hedge fund managers who were boosting their stakes substantially.
Out of the hedge funds we follow, Nokomis Capital, managed by Brett Hendrickson, holds the largest position in Windstream Corporation (NASDAQ:WIN). Nokomis Capital has a $12.7 million position in the stock, comprising 5.1% of its 13F portfolio. Sitting at the No. 2 spot is Robert Pitts of Steadfast Capital Management, with a $10.6 million position; the fund has 0.3% of its 13F portfolio invested in the stock. Other hedge funds that hold long positions include D. E. Shaw’s D E Shaw, Jeffrey Jon Berney’s TriOaks Capital Management and Ken Griffin’s Citadel Investment Group.
Because Windstream Corporation (NASDAQ:WIN) has experienced a fall in interest from the smart money’s best and brightest, we can see that there is a sect of money managers who were dropping their entire stakes heading into Q2. Intriguingly, Patrick Halloran’s Wayzata Investment Partners dropped the biggest investment of the 450+ funds we track, worth an estimated $19.3 million in stock, and Glenn Russell Dubin of Highbridge Capital Management was right behind this move, as the fund sold off about $5.5 million worth. These transactions are interesting, as aggregate hedge fund interest fell by 5 funds heading into Q2.
What do corporate executives and insiders think about Windstream Corporation (NASDAQ:WIN)?
Bullish insider trading is at its handiest when the company in focus has seen transactions within the past six months. Over the latest 180-day time frame, Windstream Corporation (NASDAQ:WIN) has seen 4 unique insiders buying, and 1 insider sales (see the details of insider trades here).
We’ll also examine the relationship between both of these indicators in other stocks similar to Windstream Corporation (NASDAQ:WIN). These stocks are Chunghwa Telecom Co., Ltd (ADR) (NYSE:CHT), Atlantic Tele-Network, Inc. (NASDAQ:ATNI), CenturyLink, Inc. (NYSE:CTL), TW Telecom Inc (NASDAQ:TWTC), and Frontier Communications Corp (NASDAQ:FTR). This group of stocks are the members of the telecom services – domestic industry and their market caps match WIN’s market cap.