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Insider Buying Says Schlumberger (SLB), Entercom (ETM) and Hawaiian Holdings (HA) Are Undervalued

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The market continues to reverse course this week, making up half of last week’s losses as fears that a China/U.S trade war could be imminent begin to fade. Getting less attention was the fact that China has launched an oil futures exchange using its own currency, which UBS Asset Management’s Hayden Briscoe described to Reuters as “the single biggest change in capital markets, maybe of all time.”

With the recent stock market turmoil creating plenty of discounts, we turn to insider trading to help pinpoint some of the biggest ones. Schlumberger Limited. (NYSE:SLB) heads the list, with two of the company’s leading executives buying shares yesterday, which are off by over 15% in the past two months. Insiders at Entercom Communications Corp. (NYSE:ETM) and Hawaiian Holdings, Inc. (NASDAQ:HA) have also been buying shares recently. We’ll look at that activity below.

At Insider Monkey, we track insider trading and hedge fund activity to uncover actionable patterns and profit from them. We track over 600 of the most successful hedge funds ever in our database and identify only their best stock picks. Hedge funds are like many other companies in that they bundle products (in this case, stock picks) together and sell them to customers (investors) as a package deal. That means you get their 73rd-best pick along with their best pick, and who wants to pay exorbitant fees for a fund’s 73rd-best idea when you could instead invest in only their best ideas? Our newest quarterly stock picks were released in February, which investors can gain access to by becoming a subscriber to Insider Monkey’s premium newsletters.

Stokkete/Shutterstock.com

Stokkete/Shutterstock.com

Entercom Communications Corp. (NYSE:ETM)

Who Bought Shares: Chairman Emeritus Joseph Field

How Many Shares Were Bought: 1.64 million shares

Date of the Transaction(s): March 9 – 26

Entercom Communications Corp. (NYSE:ETM) shares have shed over 10% of their value in 2018 and are down by over 30% during the past year, which prompted the company’s chairman emeritus, Joseph Field, to begin buying up shares beginning on March 9. Through yesterday, those purchases have amounted to 1.64 million shares.

Hedge Fund Ownership of Entercom Communications Corp. (NYSE:ETM) Surges in Q4: The number of hedge funds in our database that own shares of Entercom jumped to 28 by the end of the fourth quarter from just 12 at the start of it. Billionaire Steve Cohen‘s family office Point72 Asset Management opened a 5.56 million-share stake during the quarter, while several hedge funds with existing positions also made huge additions to those stakes, including Matt Sirovich and Jeremy Mindich’s Scopia Capital and Robert Henry Lynch’s Aristeia Capital.

It was during the fourth-quarter that Entercom completed its acquisition of CBS Radio, becoming one of the largest broadcasters in the world with 100 million listeners weekly. Despite the move being received positively, setting the company up for future growth and giving it added clout with advertisers, Entercom shares have trended down since its completion. Trading at a P/E of just 3.99 and with a dividend yield of 3.72%, there appears to be far more upside potential than downside risk priced into Entercom shares right now.

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On the next page we’ll look at the insider buying activity over at Schlumberger Limited. (NYSE:SLB) and Hawaiian Holdings, Inc. (NASDAQ:HA).

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