Is TeleTech Holdings, Inc. (NASDAQ:TTEC) an attractive stock to buy now? The best stock pickers are getting more bullish. The number of long hedge fund bets inched up by 1 recently.
At the moment, there are tons of methods shareholders can use to track publicly traded companies. Two of the most useful 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 top money managers can outperform the market by a very impressive amount (see just how much).
Equally as key, positive insider trading activity is a second way to break down the marketplace. There are a number of incentives for a bullish insider to downsize shares of his or her company, but just one, very simple reason why they would buy. Various academic studies have demonstrated the valuable potential of this strategy if investors know what to do (learn more here).
With all of this in mind, it’s important to take a look at the recent action regarding TeleTech Holdings, Inc. (NASDAQ:TTEC).
Hedge fund activity in TeleTech Holdings, Inc. (NASDAQ:TTEC)
Heading into Q2, a total of 11 of the hedge funds we track were long in this stock, a change of 10% from the previous quarter. With hedgies’ capital changing hands, there exists a select group of key hedge fund managers who were boosting their stakes considerably.
Of the funds we track, Chuck Royce’s Royce & Associates had the biggest position in TeleTech Holdings, Inc. (NASDAQ:TTEC), worth close to $24.5 million, comprising 0.1% of its total 13F portfolio. Sitting at the No. 2 spot is D. E. Shaw of D E Shaw, with a $2.4 million position; less than 0.1%% of its 13F portfolio is allocated to the stock. Some other hedge funds that hold long positions include Cliff Asness’s AQR Capital Management, John Overdeck and David Siegel’s Two Sigma Advisors and Ken Griffin’s Citadel Investment Group.
With a general bullishness amongst the heavyweights, some big names were breaking ground themselves. Whitebox Advisors, managed by Andy Redleaf, initiated the biggest position in TeleTech Holdings, Inc. (NASDAQ:TTEC). Whitebox Advisors had 1 million invested in the company at the end of the quarter. Mike Vranos’s Ellington also made a $0.3 million investment in the stock during the quarter. The only other fund with a brand new TTEC position is Douglas W. Case’s Advanced Investment Partners.
How are insiders trading TeleTech Holdings, Inc. (NASDAQ:TTEC)?
Insider purchases made by high-level executives is particularly usable when the company we’re looking at has seen transactions within the past six months. Over the latest 180-day time period, TeleTech Holdings, Inc. (NASDAQ:TTEC) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).
Let’s also examine hedge fund and insider activity in other stocks similar to TeleTech Holdings, Inc. (NASDAQ:TTEC). These stocks are Infoblox Inc (NYSE:BLOX), Atlas Resource Partners, L.P. (NYSE:ARP), ExlService Holdings, Inc. (NASDAQ:EXLS), Quad/Graphics, Inc. (NYSE:QUAD), and NetSpend Holdings Inc (NASDAQ:NTSP). This group of stocks are in the business services industry and their market caps are closest to TTEC’s market cap.