Hedge Funds Are Buying CONSOL Energy Inc. (CNX)

CONSOL Energy Inc. (NYSE:CNX) was in 32 hedge funds’ portfolio at the end of March. CNX investors should be aware of an increase in hedge fund interest recently. There were 25 hedge funds in our database with CNX holdings at the end of the previous quarter.

In today’s marketplace, there are many gauges investors can use to watch publicly traded companies. Some of the most useful are hedge fund and insider trading activity. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the elite money managers can outpace the S&P 500 by a very impressive margin (see just how much).

CONSOL Energy Inc. (NYSE:CNX)Just as key, positive insider trading activity is another way to break down the marketplace. As the old adage goes: there are a variety of reasons for an executive to downsize shares of his or her company, but just one, very clear reason why they would behave bullishly. Various academic studies have demonstrated the impressive potential of this tactic if “monkeys” understand where to look (learn more here).

With these “truths” under our belt, we’re going to take a glance at the latest action encompassing CONSOL Energy Inc. (NYSE:CNX).

What does the smart money think about CONSOL Energy Inc. (NYSE:CNX)?

In preparation for this quarter, a total of 32 of the hedge funds we track were long in this stock, a change of 28% from the first quarter. With hedge funds’ capital changing hands, there exists a few noteworthy hedge fund managers who were increasing their holdings significantly.

When looking at the hedgies we track, Mason Hawkins’s Southeastern Asset Management had the most valuable position in CONSOL Energy Inc. (NYSE:CNX), worth close to $824 million, accounting for 3.7% of its total 13F portfolio. Coming in second is SAC Capital Advisors, managed by Steven Cohen, which held a $109.1 million position; 0.5% of its 13F portfolio is allocated to the company. Other hedge funds with similar optimism include John Burbank’s Passport Capital, Larry Foley and Paul Farrell’s Bronson Point Partners and Mario Gabelli’s GAMCO Investors.

Now, specific money managers have jumped into CONSOL Energy Inc. (NYSE:CNX) headfirst. Balyasny Asset Management, managed by Dmitry Balyasny, established the biggest position in CONSOL Energy Inc. (NYSE:CNX). Balyasny Asset Management had 23.7 million invested in the company at the end of the quarter. Arvind Sanger’s GeoSphere Capital Management also made a $8.3 million investment in the stock during the quarter. The other funds with brand new CNX positions are Wayne Cooperman’s Cobalt Capital Management, George Soros’s Soros Fund Management, and Anand Parekh’s Alyeska Investment Group.

Insider trading activity in CONSOL Energy Inc. (NYSE:CNX)

Insider trading activity, especially when it’s bullish, is best served when the company in focus has experienced transactions within the past six months. Over the last six-month time period, CONSOL Energy Inc. (NYSE:CNX) has experienced zero unique insiders buying, and 1 insider sales (see the details of insider trades here).

With the results exhibited by our studies, retail investors must always keep an eye on hedge fund and insider trading activity, and CONSOL Energy Inc. (NYSE:CNX) is an important part of this process.

Click here to learn why you should track hedge funds

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

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

The 10 Fastest Growing Companies in America

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!