Leap Wireless International: Insiders and Funds Selling Shares in Q3

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 Leap Wireless International Inc. (NASDAQ:LEAP).

SEC data indicate these insiders have sold Leap Wireless International Inc.’s stock since 06/30/2011:

  • Stephens Leonard C: act as Sr. Vice President, HR. On 08/19/2011, sold 1,233 shares, worth $10,900.
  • Irving Robert J Jr: act as Sr. VP and General Counsel. On 08/19/2011, sold 1,233 shares, worth $10,900.

SEC data indicate that these institutions significantly reduced their stock shares of Leap Wireless International Inc. in Q3 2011:

  • IRIDIAN ASSET MANAGEMENT LLC/CT: On 06/30/2011, held 2,641,689 shares, worth $42,874,612. On 09/30/2011, held 0 shares.
  • CALAMOS ADVISORS LLC: On 06/30/2011, held 1,300,000 shares, worth $21,099,000. On 09/30/2011, held 0 shares.
  • LAKEWOOD CAPITAL MANAGEMENT LP: On 06/30/2011, held 917,940 shares, worth $14,898,166. On 09/30/2011, held 0 shares.
  • BHR CAPITAL LLC: On 06/30/2011, held 858,110 shares, worth $13,927,125. On 09/30/2011, held 0 shares.
  • VINIK ASSET MANAGEMENT L P: On 06/30/2011, held 750,000 shares, worth $12,172,500. On 09/30/2011, held 0 shares.

About the company: Leap Wireless International, Inc. provides mobile wireless services. The Company’s services are targeted to meet the needs of customers who are under-served by traditional communications companies. Leap’s Cricket service is available to customers in various states from New York to California.

Competitors to Watch: MetroPCS Communications, Inc. (NYSE:PCS), United States Cellular Corp. (NYSE:USM), Sprint Nextel Corporation (NYSE:S), Telephone & Data Systems, Inc. (NYSE:TDS), Verizon Communications Inc. (NYSE:VZ), Clearwire Corporation (NASDAQ:CLWR), NTELOS Holdings Corp. (NASDAQ:NTLS), AT&T Inc. (NYSE:T), Shenandoah Telecommunications Co. (NASDAQ:SHEN), and USA Mobility, Inc. (NASDAQ:USMO).

(Note: Data regarding Leap Wireless International Inc.’s stock holdings are sourced from whalewisdom.com. All data are assumed to be accurate.)

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