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Is Rogers Communications Inc. (USA) (RCI) Going to Burn These Hedge Funds?

Is Rogers Communications Inc. (USA) (NYSE:RCI) the right pick for your portfolio? The best stock pickers are in a bullish mood. The number of bullish hedge fund bets rose by 2 lately.

Rogers Communications Inc. (USA) (NYSE:RCI)

To the average investor, there are plenty of indicators investors can use to track stocks. A duo of the most underrated are hedge fund and insider trading interest. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the elite fund managers can trounce the market by a healthy margin (see just how much).

Just as beneficial, bullish insider trading sentiment is another way to parse down the financial markets. As the old adage goes: there are lots of reasons for an executive to cut shares of his or her company, but just one, very simple reason why they would buy. Plenty of empirical studies have demonstrated the valuable potential of this method if shareholders understand what to do (learn more here).

Consequently, it’s important to take a gander at the recent action encompassing Rogers Communications Inc. (USA) (NYSE:RCI).

Hedge fund activity in Rogers Communications Inc. (USA) (NYSE:RCI)

At Q1’s end, a total of 10 of the hedge funds we track were long in this stock, a change of 25% from the previous quarter. With hedge funds’ capital changing hands, there exists a select group of noteworthy hedge fund managers who were increasing their holdings substantially.

According to our comprehensive database, Shannon River Fund Management, managed by Spencer M. Waxman, holds the largest position in Rogers Communications Inc. (USA) (NYSE:RCI). Shannon River Fund Management has a $42.5 million position in the stock, comprising 4.9% of its 13F portfolio. On Shannon River Fund Management’s heels is GAMCO Investors, managed by Mario Gabelli, which held a $34.5 million position; the fund has 0.2% of its 13F portfolio invested in the stock. Remaining hedge funds with similar optimism include Jim Simons’s Renaissance Technologies, Israel Englander’s Millennium Management and D. E. Shaw’s D E Shaw.

With a general bullishness amongst the heavyweights, key money managers were leading the bulls’ herd. D E Shaw, managed by D. E. Shaw, initiated the most outsized position in Rogers Communications Inc. (USA) (NYSE:RCI). D E Shaw had 3 million invested in the company at the end of the quarter. D. E. Shaw’s D E Shaw also initiated a $1.4 million position during the quarter. The following funds were also among the new RCI investors: Ken Fisher’s Fisher Asset Management and Cliff Asness’s AQR Capital Management.

How have insiders been trading Rogers Communications Inc. (USA) (NYSE:RCI)?

Insider purchases made by high-level executives is at its handiest when the company in focus has experienced transactions within the past 180 days. Over the latest six-month time period, Rogers Communications Inc. (USA) (NYSE:RCI) has experienced 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 Rogers Communications Inc. (USA) (NYSE:RCI). These stocks are Sprint Nextel Corporation (NYSE:S), Mobile TeleSystems OJSC (ADR) (NYSE:MBT), China Unicom (Hong Kong) Limited (ADR) (NYSE:CHU), TELUS Corporation (USA) (NYSE:TU), and Telefonica Brasil SA (ADR) (NYSE:VIV). This group of stocks belong to the wireless communications industry and their market caps resemble RCI’s market cap.