Hedge Funds Are Crazy About Stone Energy Corporation (SGY)

Page 1 of 2

Is it smart to be bullish on Stone Energy Corporation (NYSE:SGY)?

To the average investor, there are many gauges market participants can use to track publicly traded companies. Some of the most innovative are hedge fund and insider trading sentiment. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the top hedge fund managers can trounce the broader indices by a healthy amount (see just how much).

Equally as useful, positive insider trading sentiment is another way to look at the world of equities. There are plenty of motivations for an executive to cut shares of his or her company, but just one, very obvious reason why they would initiate a purchase. Many empirical studies have demonstrated the market-beating potential of this method if “monkeys” know where to look (learn more here).

Keeping this in mind, it’s important to examine the recent info surrounding Stone Energy Corporation (NYSE:SGY).

How have hedgies been trading Stone Energy Corporation (NYSE:SGY)?

In preparation for the third quarter, a total of 19 of the hedge funds we track held long positions in this stock, a change of 19% from the previous quarter. With hedge funds’ sentiment swirling, there exists an “upper tier” of noteworthy hedge fund managers who were boosting their holdings considerably.

Stone Energy Corporation (NYSE:SGY)Out of the hedge funds we follow, Israel Englander’s Millennium Management had the most valuable position in Stone Energy Corporation (NYSE:SGY), worth close to $50.6 million, accounting for 0.2% of its total 13F portfolio. Sitting at the No. 2 spot is Highbridge Capital Management, managed by Glenn Russell Dubin, which held a $19.1 million position; the fund has 0.2% of its 13F portfolio invested in the stock. Some other peers that hold long positions include Chuck Royce’s Royce & Associates, Paul Reeder and Edward Shapiro’s PAR Capital Management and Cliff Asness’s AQR Capital Management.

With a general bullishness amongst the titans, certain bigger names were leading the bulls’ herd. Millennium Management, managed by Israel Englander, created the most outsized position in Stone Energy Corporation (NYSE:SGY). Millennium Management had 50.6 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also made a $29.2 million investment in the stock during the quarter. The other funds with new positions in the stock are Glenn Russell Dubin’s Highbridge Capital Management, Howard Marks’s Oaktree Capital Management, and Chuck Royce’s Royce & Associates.

Insider trading activity in Stone Energy Corporation (NYSE:SGY)

Insider buying made by high-level executives is particularly usable when the company in focus has seen transactions within the past half-year. Over the latest 180-day time period, Stone Energy Corporation (NYSE:SGY) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).

We’ll also review the relationship between both of these indicators in other stocks similar to Stone Energy Corporation (NYSE:SGY). These stocks are LinnCo LLC (NASDAQ:LNCO), Diamondback Energy Inc (NASDAQ:FANG), QR Energy LP (NYSE:QRE), Carrizo Oil & Gas, Inc. (NASDAQ:CRZO), and EPL Oil & Gas Inc (NYSE:EPL). All of these stocks are in the independent oil & gas industry and their market caps are closest to SGY’s market cap.

Page 1 of 2
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!