America Movil SAB de CV (ADR) (NYSE:AMX) was in 17 hedge funds’ portfolio at the end of the first quarter of 2013. AMX investors should be aware of a decrease in support from the world’s most elite money managers of late. There were 18 hedge funds in our database with AMX positions at the end of the previous quarter.
At the moment, there are plenty of methods shareholders can use to monitor stocks. A couple 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 elite fund managers can outclass their index-focused peers by a superb amount (see just how much).
Just as integral, bullish insider trading sentiment is another way to break down the financial markets. Obviously, there are many reasons for an upper level exec to sell shares of his or her company, but just one, very clear reason why they would buy. Many academic studies have demonstrated the impressive potential of this strategy if piggybackers know what to do (learn more here).
With these “truths” under our belt, we’re going to take a gander at the latest action encompassing America Movil SAB de CV (ADR) (NYSE:AMX).
How have hedgies been trading America Movil SAB de CV (ADR) (NYSE:AMX)?
In preparation for this quarter, a total of 17 of the hedge funds we track held long positions in this stock, a change of -6% from one quarter earlier. With hedge funds’ positions undergoing their usual ebb and flow, there exists an “upper tier” of notable hedge fund managers who were increasing their holdings substantially.
Of the funds we track, AQR Capital Management, managed by Cliff Asness, holds the biggest position in America Movil SAB de CV (ADR) (NYSE:AMX). AQR Capital Management has a $32 million position in the stock, comprising 0.1% of its 13F portfolio. On AQR Capital Management’s heels is Ken Fisher of Fisher Asset Management, with a $21 million position; 0.1% of its 13F portfolio is allocated to the company. Some other hedge funds with similar optimism include Jane Mendillo’s Harvard Management Co, James Melcher’s Balestra and Charles Akre’s Akre Capital Management.
Judging by the fact that America Movil SAB de CV (ADR) (NYSE:AMX) has experienced declining sentiment from hedge fund managers, we can see that there were a few funds who were dropping their full holdings at the end of the first quarter. At the top of the heap, John Griffin’s Blue Ridge Capital said goodbye to the largest investment of the “upper crust” of funds we track, worth about $105.9 million in stock.. Jonathon Jacobson’s fund, Highfields Capital Management, also dropped its stock, about $46.3 million worth. These transactions are intriguing to say the least, as total hedge fund interest dropped by 1 funds at the end of the first quarter.
How have insiders been trading America Movil SAB de CV (ADR) (NYSE:AMX)?
Insider trading activity, especially when it’s bullish, is particularly usable when the company in focus has seen transactions within the past six months. Over the last half-year time frame, America Movil SAB de CV (ADR) (NYSE:AMX) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
Let’s also take a look at hedge fund and insider activity in other stocks similar to America Movil SAB de CV (ADR) (NYSE:AMX). These stocks are Rogers Communications Inc. (USA) (NYSE:RCI), China Mobile Ltd. (ADR) (NYSE:CHL), Telefonica Brasil SA (ADR) (NYSE:VIV), China Unicom (Hong Kong) Limited (ADR) (NYSE:CHU), and Vodafone Group Plc (ADR) (NASDAQ:VOD). This group of stocks are the members of the wireless communications industry and their market caps resemble AMX’s market cap.