Should ValueVision Media, Inc. (NASDAQ:VVTV) investors track the following data?
Now, according to many traders, hedge funds are assumed to be useless, outdated financial vehicles of an era lost to time. Although there are more than 8,000 hedge funds with their doors open in present day, this site focuses on the top tier of this group, around 525 funds. It is assumed that this group has its hands on the majority of the hedge fund industry’s total assets, and by tracking their highest performing equity investments, we’ve formulated a number of investment strategies that have historically beaten Mr. Market. Our small-cap hedge fund strategy beat the S&P 500 index by 18 percentage points a year for a decade in our back tests, and since we’ve began to sharing our picks with our subscribers at the end of August 2012, we have beaten the S&P 500 index by 33 percentage points in 11 months (find a sample of our picks).
Equally as necessary, optimistic insider trading sentiment is a second way to analyze the world of equities. As the old adage goes: there are plenty of stimuli for an executive to get rid of shares of his or her company, but just one, very obvious reason why they would buy. Many academic studies have demonstrated the useful potential of this strategy if “monkeys” know what to do (learn more here).
Thus, let’s analyze the newest info surrounding ValueVision Media, Inc. (NASDAQ:VVTV).
How are hedge funds trading ValueVision Media, Inc. (NASDAQ:VVTV)?
At the end of the second quarter, a total of 10 of the hedge funds we track held long positions in this stock, a change of 0% from the previous quarter. With hedgies’ capital changing hands, there exists an “upper tier” of noteworthy hedge fund managers who were boosting their stakes considerably.
According to our 13F database, PAR Capital Management, managed by Paul Reeder and Edward Shapiro, holds the largest position in ValueVision Media, Inc. (NASDAQ:VVTV). PAR Capital Management has a $24.2 million position in the stock, comprising 0.7% of its 13F portfolio. Sitting at the No. 2 spot is Cannell Capital, managed by J. Carlo Cannell, which held a $10.7 million position; 6.3% of its 13F portfolio is allocated to the company. Other hedgies that are bullish include Phil Frohlich’s Prescott Group Capital Management, Ken Griffin’s Citadel Investment Group and Israel Englander’s Millennium Management.
Since ValueVision Media, Inc. (NASDAQ:VVTV) has faced bearish sentiment from the entirety of the hedge funds we track, we can see that there lies a certain “tier” of hedge funds who sold off their full holdings last quarter. Intriguingly, J. Alan Reid, Jr.’s Forward Management sold off the largest stake of the 450+ funds we monitor, totaling an estimated $0.3 million in stock. Ken Gray and Steve Walsh’s fund, Bryn Mawr Capital, also dumped its stock, about $0.2 million worth. These bearish behaviors are intriguing to say the least, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).
How have insiders been trading ValueVision Media, Inc. (NASDAQ:VVTV)?
Insider buying made by high-level executives is best served when the company we’re looking at has experienced transactions within the past half-year. Over the latest half-year time frame, ValueVision Media, Inc. (NASDAQ:VVTV) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).
We’ll also review the relationship between both of these indicators in other stocks similar to ValueVision Media, Inc. (NASDAQ:VVTV). These stocks are Acorn International, Inc. (ADR) (NYSE:ATV), E Commerce China Dangdang Inc (ADR) (NYSE:DANG), Gaiam, Inc. (NASDAQ:GAIA), Overstock.com, Inc. (NASDAQ:OSTK), and Vitacost.com, Inc. (NASDAQ:VITC). All of these stocks are in the catalog & mail order houses industry and their market caps resemble VVTV’s market cap.