Is it smart to be bullish on Mobile TeleSystems OJSC (ADR) (NYSE:MBT)?
In today’s marketplace, there are tons of indicators investors can use to monitor their holdings. Two of the most under-the-radar 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 outpace the market by a solid margin (see just how much).
Just as crucial, bullish insider trading sentiment is another way to analyze the marketplace. Just as you’d expect, there are a number of motivations for an executive to sell shares of his or her company, but only one, very obvious reason why they would behave bullishly. Several empirical studies have demonstrated the impressive potential of this tactic if piggybackers know where to look (learn more here).
What’s more, we’re going to study the recent info surrounding Mobile TeleSystems OJSC (ADR) (NYSE:MBT).
How have hedgies been trading Mobile TeleSystems OJSC (ADR) (NYSE:MBT)?
At Q2’s end, a total of 18 of the hedge funds we track were long in this stock, a change of 20% from one quarter earlier. With the smart money’s sentiment swirling, there exists a few notable hedge fund managers who were increasing their stakes considerably.
According to our 13F database, Peter Rathjens Bruce Clarke and John Campbell’s Arrowstreet Capital had the most valuable position in Mobile TeleSystems OJSC (ADR) (NYSE:MBT), worth close to $67.4 million, comprising 0.5% of its total 13F portfolio. The second largest stake is held by D E Shaw, managed by D. E. Shaw, which held a $14.9 million position; less than 0.1%% of its 13F portfolio is allocated to the company. Other hedgies that are bullish include Jane Mendillo’s Harvard Management Co, Brian Ashford-Russell and Tim Woolley’s Polar Capital and Ken Griffin’s Citadel Investment Group.
As one would understandably expect, specific money managers were leading the bulls’ herd. Arrowstreet Capital, managed by Peter Rathjens, Bruce Clarke and John Campbell, assembled the biggest position in Mobile TeleSystems OJSC (ADR) (NYSE:MBT). Arrowstreet Capital had 67.4 million invested in the company at the end of the quarter. D. E. Shaw’s D E Shaw also initiated a $14.9 million position during the quarter. The other funds with brand new MBT positions are Jane Mendillo’s Harvard Management Co, Brian Ashford-Russell and Tim Woolley’s Polar Capital, and Ken Griffin’s Citadel Investment Group.
What have insiders been doing with Mobile TeleSystems OJSC (ADR) (NYSE:MBT)?
Insider buying is particularly usable when the company in question has experienced transactions within the past half-year. Over the latest half-year time frame, Mobile TeleSystems OJSC (ADR) (NYSE:MBT) has experienced zero unique insiders buying, and zero 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 Mobile TeleSystems OJSC (ADR) (NYSE:MBT). These stocks are Turkcell Iletisim Hizmetleri A.S. (ADR) (NYSE:TKC), VimpelCom Ltd (ADR) (NYSE:VIP), Rogers Communications Inc. (USA) (NYSE:RCI), Sprint Nextel Corporation (NYSE:S), and TELUS Corporation (USA) (NYSE:TU). This group of stocks belong to the wireless communications industry and their market caps are closest to MBT’s market cap.