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

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
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 Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

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 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!