Gran Tierra Energy Inc. (GTE) Hedge Funds Are Snapping Up

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Consequently, specific money managers have jumped into Gran Tierra Energy Inc. (NYSEMKT:GTE) headfirst. Luminus Management,  initiated the most valuable position in Gran Tierra Energy Inc. (NYSEMKT:GTE). Luminus Management had $14.5 million invested in the company at the end of the quarter. Joseph Mathias’s Concourse Capital Management also initiated a $3 million position during the quarter. The other funds with brand new GTE positions are John Thiessen’s Vertex One Asset Management and Ken Griffin’s Citadel Investment Group.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Gran Tierra Energy Inc. (NYSEMKT:GTE) but similarly valued. These stocks are Mimecast Ltd (NASDAQ:MIME), Diodes Incorporated (NASDAQ:DIOD), MacroGenics Inc (NASDAQ:MGNX), and Clayton Williams Energy, Inc. (NASDAQ:CWEI). All of these stocks’ market caps match GTE’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
MIME 15 103285 12
DIOD 8 61585 1
MGNX 17 166773 -1
CWEI 13 210513 3

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $136 million. That figure was $219 million in GTE’s case. MacroGenics Inc (NASDAQ:MGNX) is the most popular stock in this table. On the other hand Diodes Incorporated (NASDAQ:DIOD) is the least popular one with only 8 bullish hedge fund positions. Compared to these stocks Gran Tierra Energy Inc. (NYSEMKT:GTE) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None

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