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

The 10 Most Expensive States to Own a Car In

Top 10 Business Schools in US: 2014 Rankings

Top 20 Female Billionaires in 2014

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top 6 Tax Scams and How to Protect Yourself

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

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!