Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Hedge Funds Are Crazy About South Jersey Industries Inc (SJI)

Page 1 of 2

Hedge funds are not perfect. They have their bad picks just like everyone else. Micron, a stock hedge funds have loved, lost 50% during the last 12 months ending in October 30. Although hedge funds are not perfect, their consensus picks do deliver solid returns, however. Our data show the top 30 S&P 500 stocks among hedge funds at the end of September 2014 yielded an average return of 9.5% in the same time period, vs. a gain of 5.2% for the S&P 500 Index. Because hedge funds have a lot of resources and their consensus picks do well, we pay attention to what they think. In this article, we analyze what the elite funds think of South Jersey Industries Inc (NYSE:SJI).

South Jersey Industries Inc (NYSE:SJI) has seen an increase in support from the world’s most elite money managers recently. SJI was in 10 hedge funds’ portfolios at the end of September. There were 8 hedge funds in our database with SJI positions at the end of the previous quarter. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity, but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as First Busey Corporation (NASDAQ:BUSE), Halozyme Therapeutics, Inc. (NASDAQ:HALO), and Sanmina Corp (NASDAQ:SANM) to gather more data points.

Follow South Jersey Industries Inc (NYSE:SJI)
Trade (NYSE:SJI) Now!

If you’d ask most market participants, hedge funds are assumed to be slow, old financial vehicles of years past. While there are more than an 8000 funds in operation at present, Our researchers choose to focus on the top tier of this club, around 700 funds. These investment experts orchestrate most of all hedge funds’ total asset base, and by following their inimitable equity investments, Insider Monkey has determined a few investment strategies that have historically exceeded the S&P 500 index. Insider Monkey’s small-cap hedge fund strategy outpaced the S&P 500 index by 12 percentage points per year for a decade in their back tests.

Now, let’s analyze the key action surrounding South Jersey Industries Inc (NYSE:SJI).

How have hedgies been trading South Jersey Industries Inc (NYSE:SJI)?

At the Q3’s end, a total of 10 of the hedge funds tracked by Insider Monkey were long this stock, a change of 25% from the second quarter. With the smart money’s sentiment swirling, there exists a few noteworthy hedge fund managers who were boosting their holdings significantly (or already accumulated large positions).

When looking at the institutional investors followed by Insider Monkey, Adage Capital Management, managed by Phill Gross and Robert Atchinson, holds the largest position in South Jersey Industries Inc (NYSE:SJI). Adage Capital Management has a $23.9 million position in the stock, comprising 0.1% of its 13F portfolio. On Adage Capital Management’s heels is Renaissance Technologies, which holds a $8.8 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Remaining hedge funds and institutional investors that are bullish encompass Israel Englander’s Millennium Management, Ken Griffin’s Citadel Investment Group and Ken Gray and Steve Walsh’s Bryn Mawr Capital.

Page 1 of 2

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...
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 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!