Do Hedge Funds and Insiders Love Elan Corporation, plc (ADR) (ELN)?

Page 1 of 2

Now, according to many of your fellow readers, hedge funds are seen as useless, old investment tools of a period lost to current times. Although there are more than 8,000 hedge funds in operation today, this site focuses on the aristocrats of this group, about 525 funds. It is assumed that this group has its hands on the majority of the smart money’s total assets, and by tracking their highest performing investments, we’ve determined a number of investment strategies that have historically outstripped the market. Our small-cap hedge fund strategy beat the S&P 500 index by 18 percentage points per annum 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 outclassed the S&P 500 index by 33 percentage points in 11 months (find a sample of our picks).

Equally as key, positive insider trading activity is a second way to look at the investments you’re interested in. As the old adage goes: there are a number of motivations for an upper level exec to drop shares of his or her company, but just one, very clear reason why they would initiate a purchase. Various academic studies have demonstrated the valuable potential of this method if “monkeys” understand what to do (learn more here).

Furthermore, we’re going to discuss the recent info about Elan Corporation, plc (ADR) (NYSE:ELN).

Elan Corporation, plc (ADR) (NYSE:ELN)

How are hedge funds trading Elan Corporation, plc (ADR) (NYSE:ELN)?

Heading into Q3, a total of 47 of the hedge funds we track were bullish in this stock, a change of 42% from one quarter earlier. With hedgies’ positions undergoing their usual ebb and flow, there exists an “upper tier” of key hedge fund managers who were increasing their holdings significantly.

When using filings from the hedgies we track, James Dinan’s York Capital Management had the biggest position in Elan Corporation, plc (ADR) (NYSE:ELN), worth close to $235.4 million, comprising 4.9% of its total 13F portfolio. On York Capital Management’s heels is Scopia Capital, managed by Matt Sirovich and Jeremy Mindich, which held a $150.1 million position; 4.2% of its 13F portfolio is allocated to the stock. Remaining hedge funds that hold long positions include Daniel S. Och’s OZ Management, Dan Loeb’s Third Point and David Cohen and Harold Levy’s Iridian Asset Management.

As industrywide interest increased, specific money managers were leading the bulls’ herd. York Capital Management, managed by James Dinan, created the biggest position in Elan Corporation, plc (ADR) (NYSE:ELN). York Capital Management had 235.4 million invested in the company at the end of the quarter. Matt Sirovich and Jeremy Mindich’s Scopia Capital also made a $150.1 million investment in the stock during the quarter. The other funds with brand new ELN positions are Daniel S. Och’s OZ Management, Dan Loeb’s Third Point, and David Cohen and Harold Levy’s Iridian Asset Management.

How are insiders trading Elan Corporation, plc (ADR) (NYSE:ELN)?

Legal insider trading, particularly when it’s bullish, is most useful when the company in focus has seen transactions within the past six months. Over the latest 180-day time frame, Elan Corporation, plc (ADR) (NYSE:ELN) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).

We’ll go over the relationship between both of these indicators in other stocks similar to Elan Corporation, plc (ADR) (NYSE:ELN). These stocks are Delcath Systems, Inc. (NASDAQ:DCTH), Petmed Express Inc (NASDAQ:PETS), Valeant Pharmaceuticals Intl Inc (NYSE:VRX), Alkermes Plc (NASDAQ:ALKS), and Hospira, Inc. (NYSE:HSP). This group of stocks belong to the drug delivery industry and their market caps are closest to ELN’s market cap.

Page 1 of 2
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!