Loral Space & Communications Ltd. (NASDAQ:LORL) was in 28 hedge funds’ portfolio at the end of March. LORL investors should be aware of an increase in enthusiasm from smart money recently. There were 24 hedge funds in our database with LORL holdings at the end of the previous quarter.
In the 21st century investor’s toolkit, there are dozens of methods investors can use to analyze stocks. Some of the best are hedge fund and insider trading sentiment. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the elite hedge fund managers can beat their index-focused peers by a superb amount (see just how much).
Just as beneficial, optimistic insider trading activity is another way to parse down the investments you’re interested in. As the old adage goes: there are many motivations for a bullish insider to sell shares of his or her company, but only one, very simple reason why they would behave bullishly. Many academic studies have demonstrated the useful potential of this tactic if you know where to look (learn more here).
Consequently, it’s important to take a gander at the latest action surrounding Loral Space & Communications Ltd. (NASDAQ:LORL).
How are hedge funds trading Loral Space & Communications Ltd. (NASDAQ:LORL)?
In preparation for this quarter, a total of 28 of the hedge funds we track were long in this stock, a change of 17% from the first quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists a few noteworthy hedge fund managers who were boosting their holdings meaningfully.
Of the funds we track, Mark Rachesky’s MHR Fund Management had the largest position in Loral Space & Communications Ltd. (NASDAQ:LORL), worth close to $503.1 million, comprising 17.8% of its total 13F portfolio. Sitting at the No. 2 spot is Christopher Pucillo of Solus Alternative Asset Management, with a $86.2 million position; 30.9% of its 13F portfolio is allocated to the company. Some other hedge funds that hold long positions include Amy Minella’s Cardinal Capital, and George Soros’s Soros Fund Management.
As one would reasonably expect, key money managers were breaking ground themselves. MHR Fund Management, managed by Mark Rachesky, created the biggest position in Loral Space & Communications Ltd. (NASDAQ:LORL). MHR Fund Management had 503.1 million invested in the company at the end of the quarter. Thomas Ellis and Todd Hammer’s North Run Capital also initiated a $8.2 million position during the quarter. The other funds with brand new LORL positions are Eric Edidin and Josh Lobel’s Archer Capital Management, Dennis Leibowitz’s Act II Capital, and Anthony Bozza’s Lakewood Capital Management.
What have insiders been doing with Loral Space & Communications Ltd. (NASDAQ:LORL)?
Insider trading activity, especially when it’s bullish, is at its handiest when the company we’re looking at has experienced transactions within the past half-year. Over the latest six-month time frame, Loral Space & Communications Ltd. (NASDAQ:LORL) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).
Let’s check out hedge fund and insider activity in other stocks similar to Loral Space & Communications Ltd. (NASDAQ:LORL). These stocks are Acme Packet, Inc. (NASDAQ:APKT), Arris Group, Inc. (NASDAQ:ARRS), Ciena Corporation (NASDAQ:CIEN), ADTRAN, Inc. (NASDAQ:ADTN), and NetGear, Inc. (NASDAQ:NTGR). This group of stocks are in the communication equipment industry and their market caps are similar to LORL’s market cap.