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

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 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

The 10 Most Peaceful Countries in the World

5 Big Reasons Communism Failed

The 15 Most Famous Carl Icahn Quotes

10 Scary Animals that are Actually Harmless

The 8 Most Famous Singer-Actors in Entertainment

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!