American Tower: Exec Insider and Fund Stock Sales in Q3

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Insiders are generally long-term investors due to restriction in making short-term profits. In contrast, wealth management institutions always have short-term investment. Wall St. Watchdog reveals information regarding the insiders and institutions which recently decreased stock shares of American Tower Corp. (NYSE:AMT).

SEC data indicate these insiders have sold American Tower Corp.’s stock since 06/30/2011:

  • Hess William H: act as EVP, Int’l. Operations. On 09/19/2011, sold 118,979 shares, worth $6,543,800.
  • Hess William H: act as EVP, Int’l. Operations. On 11/01/2011, sold 79,320 shares, worth $4,560,900.
  • Taiclet James D Jr: act as Chairman, President and CEO. On 09/01/2011, sold 60,000 shares, worth $3,268,800.
  • Taiclet James D Jr: act as Chairman, President and CEO. On 07/01/2011, sold 60,000 shares, worth $3,197,400.
  • Taiclet James D Jr: act as Chairman, President and CEO. On 08/01/2011, sold 60,000 shares, worth $3,135,600.

SEC data indicate that these institutions significantly reduced their stock shares of American Tower Corp. in Q3 2011:

  • LONE PINE CAPITAL LLC: On 06/30/2011, held 3,413,095 shares, worth $178,607,261. On 09/30/2011, held 0 shares.
  • JAT CAPITAL MANAGEMENT, L.P.: On 06/30/2011, held 981,887 shares, worth $51,382,147. On 09/30/2011, held 0 shares.
  • ORANGE CAPITAL, LLC: On 06/30/2011, held 500,000 shares, worth $26,165,000. On 09/30/2011, held 0 shares.
  • PERELLA WEINBERG PARTNERS CAPITAL MANAGEMENT LP: On 06/30/2011, held 500,000 shares, worth $26,165,000. On 09/30/2011, held 0 shares.
  • BROOKSIDE CAPITAL MANAGEMENT LLC: On 06/30/2011, held 349,922 shares, worth $18,311,418. On 09/30/2011, held 0 shares.

About the company: American Tower Corporation owns, operates, and develops wireless communications and broadcast towers in the United States. The Company leases antennae sites on multi-tenant towers for a diverse range of wireless communications industries, including personal communications services, paging, and cellular. American Tower also offers a variety of network development services.

Competitors to Watch: Crown Castle Intl. Corp. (NYSE:CCI), SBA Communications Corp. (NASDAQ:SBAC), Syniverse Holdings, Inc. (NYSE:SVR), AT&T Inc. (NYSE:T), Neustar, Inc (NYSE:NSR), WPCS International Inc. (NASDAQ:WPCS), Telephone & Data Systems, Inc. (NYSE:TDS), Sprint Nextel Corporation (NYSE:S), and Verizon Communications Inc. (NYSE:VZ).

(Note: Data regarding American Tower Corp.’s stock holdings are sourced from whalewisdom.com. All data are assumed to be accurate.)

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