Is Aegean Marine Petroleum Network Inc. (NYSE:ANW) a healthy stock for your portfolio? Hedge funds are betting on the stock. The number of bullish hedge fund positions advanced by 1 in recent months.
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Now, we're going to take a look at the recent action encompassing Aegean Marine Petroleum Network Inc. (NYSE:ANW).
Heading into 2013, a total of 9 of the hedge funds we track were bullish in this stock, a change of 13% from the third quarter. With hedge funds' capital changing hands, there exists a select group of key hedge fund managers who were increasing their holdings considerably.
According to our comprehensive database, Andy Redleaf's Whitebox Advisors had the largest position in Aegean Marine Petroleum Network Inc. (NYSE:ANW), worth close to $3.3 million, accounting for 0.2% of its total 13F portfolio. On Whitebox Advisors's heels is Israel Englander of Millennium Management, with a $0.9 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Other peers with similar optimism include Ken Brodkowitz and Mike Vermut's Newland Capital, Ken Griffin's Citadel Investment Group and Ken Gray and Steve Walsh's Bryn Mawr Capital.
As industrywide interest jumped, specific money managers were leading the bulls' herd. Newland Capital, managed by Ken Brodkowitz and Mike Vermut, assembled the most outsized position in Aegean Marine Petroleum Network Inc. (NYSE:ANW). Newland Capital had 0.5 million invested in the company at the end of the quarter. Jim Simons's Renaissance Technologies also initiated a $0.4 million position during the quarter. The only other fund with a new position in the stock is Mike Vranos's Ellington.
Insider purchases made by high-level executives is particularly usable when the company in question has seen transactions within the past six months. Over the latest six-month time period, Aegean Marine Petroleum Network Inc. (NYSE:ANW) has experienced zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
Let's go over hedge fund and insider activity in other stocks similar to Aegean Marine Petroleum Network Inc. (NYSE:ANW). These stocks are China Armco Metals, Inc (NYSEAMEX:CNAM), Macquarie Infrastructure Company LLC (NYSE:MIC) and L.B. Foster Company (NASDAQ:FSTR). All of these stocks are in the basic materials wholesale industry and their market caps are similar to ANW's market cap.