Gulfport Energy Corporation (NASDAQ:GPOR) has experienced an increase in hedge fund interest in recent months.
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Just as important, positive insider trading activity is another way to parse down the stock market universe. There are a variety of incentives for an insider to sell shares of his or her company, but only one, very obvious reason why they would initiate a purchase. Many empirical studies have demonstrated the useful potential of this method if piggybackers understand where to look (learn more here).
Now, it’s important to take a look at the recent action surrounding Gulfport Energy Corporation (NASDAQ:GPOR).
What does the smart money think about Gulfport Energy Corporation (NASDAQ:GPOR)?
At the end of the fourth quarter, a total of 20 of the hedge funds we track held long positions in this stock, a change of 82% from one quarter earlier. With the smart money’s positions undergoing their usual ebb and flow, there exists a select group of noteworthy hedge fund managers who were increasing their holdings meaningfully.
According to our comprehensive database, Citadel Investment Group, managed by Ken Griffin, holds the biggest position in Gulfport Energy Corporation (NASDAQ:GPOR). Citadel Investment Group has a $108 million position in the stock, comprising 0.2% of its 13F portfolio. The second largest stake is held by Donald Chiboucis of Columbus Circle Investors, with a $72 million position; the fund has 0.6% of its 13F portfolio invested in the stock. Other hedge funds with similar optimism include Israel Englander’s Millennium Management, Charles Clough’s Clough Capital Partners and Richard Driehaus’s Driehaus Capital.
Consequently, key hedge funds have been driving this bullishness. Citadel Investment Group, managed by Ken Griffin, initiated the most valuable position in Gulfport Energy Corporation (NASDAQ:GPOR). Citadel Investment Group had 108 million invested in the company at the end of the quarter. Charles Clough’s Clough Capital Partners also initiated a $20 million position during the quarter. The following funds were also among the new gpor investors: Sean Cullinan’s Point State Capital, Gregory Fraser, Rudolph Kluiber, and Timothy Krochuk’s GRT Capital Partners, and Charles Davidson’s Wexford Capital.
Insider trading activity in Gulfport Energy Corporation (NASDAQ:GPOR)
Insider buying is particularly usable when the company we’re looking at has experienced transactions within the past half-year. Over the last 180-day time period, Gulfport Energy Corporation (NASDAQ:GPOR) has seen zero unique insiders purchasing, and 1 insider sales (see the details of insider trades here).
With the returns exhibited by our strategies, everyday investors must always pay attention to hedge fund and insider trading activity, and Gulfport Energy Corporation (NASDAQ:GPOR) is no exception.
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