Do Hedge Funds and Insiders Love SolarCity Corp (SCTY)?

Page 1 of 2

SolarCity Corp (NASDAQ:SCTY) investors should be aware of an increase in activity from the world’s largest hedge funds recently.

SolarCity CorpAt the moment, there are dozens of indicators investors can use to track stocks. Some of the best are hedge fund and insider trading interest. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the top hedge fund managers can beat the S&P 500 by a healthy margin (see just how much).

Equally as beneficial, optimistic insider trading sentiment is a second way to parse down the financial markets. As the old adage goes: there are lots of incentives for an executive to downsize shares of his or her company, but just one, very simple reason why they would buy. Many academic studies have demonstrated the market-beating potential of this strategy if shareholders know what to do (learn more here).

Consequently, it’s important to take a gander at the latest action regarding SolarCity Corp (NASDAQ:SCTY).

Hedge fund activity in SolarCity Corp (NASDAQ:SCTY)

At the end of the first quarter, a total of 8 of the hedge funds we track were long in this stock, a change of 14% from the previous quarter. With the smart money’s sentiment swirling, there exists a few key hedge fund managers who were increasing their holdings meaningfully.

Of the funds we track, David Blood and Al Gore’s Generation Investment Management had the most valuable position in SolarCity Corp (NASDAQ:SCTY), worth close to $79.9 million, accounting for 1.6% of its total 13F portfolio. On Generation Investment Management’s heels is Levin Capital Strategies, managed by John A. Levin, which held a $5.6 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Remaining peers that are bullish include Richard Driehaus’s Driehaus Capital, Philip Hempleman’s Ardsley Partners and Ken Griffin’s Citadel Investment Group.

Consequently, key hedge funds have jumped into SolarCity Corp (NASDAQ:SCTY) headfirst. Ardsley Partners, managed by Philip Hempleman, initiated the largest position in SolarCity Corp (NASDAQ:SCTY). Ardsley Partners had 0.9 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also initiated a $0.5 million position during the quarter. The other funds with brand new SCTY positions are Louis Bacon’s Moore Global Investments, Paul Marshall and Ian Wace’s Marshall Wace LLP, and Ken Griffin’s Citadel Investment Group.

Insider trading activity in SolarCity Corp (NASDAQ:SCTY)

Insider buying is best served when the company in question has seen transactions within the past 180 days. Over the last six-month time period, SolarCity Corp (NASDAQ:SCTY) has seen 5 unique insiders buying, and 2 insider sales (see the details of insider trades here).

Let’s also take a look at hedge fund and insider activity in other stocks similar to SolarCity Corp (NASDAQ:SCTY). These stocks are Monolithic Power Systems, Inc. (NASDAQ:MPWR), Himax Technologies, Inc. (ADR) (NASDAQ:HIMX), SunPower Corporation (NASDAQ:SPWR), Silicon Laboratories (NASDAQ:SLAB), and Cirrus Logic, Inc. (NASDAQ:CRUS). This group of stocks are the members of the semiconductor – specialized industry and their market caps match SCTY’s market cap.

Page 1 of 2
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

Cheapest Cities to Visit in the US

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

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!