Hedge Funds Are Selling CONSOL Energy Inc. (CNX)

Page 1 of 2

Is CONSOL Energy Inc. (NYSE:CNX) a sell? One group of investors seems to think so.

To the average investor, there are plenty of indicators market participants can use to analyze publicly traded companies. Some of the most under-the-radar are hedge fund and insider trading activity. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the best investment managers can trounce the market by a significant margin (see just how much).

Just as key, positive insider trading activity is another way to look at the marketplace. Obviously, there are many incentives for a corporate insider to drop shares of his or her company, but only one, very clear reason why they would initiate a purchase. Many empirical studies have demonstrated the market-beating potential of this tactic if piggybackers understand what to do (learn more here).

Now that that’s out of the way, we’re going to examine the latest info for CONSOL Energy Inc. (NYSE:CNX).

Hedge fund activity in CONSOL Energy Inc. (NYSE:CNX)

In preparation for the third quarter, a total of 25 of the hedge funds we track held long positions in this stock, a change of -22% from the first quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists a select group of noteworthy hedge fund managers who were upping their holdings meaningfully.

CONSOL Energy Inc. (NYSE:CNX)When using filings from the hedgies we track, Mason Hawkins’s Southeastern Asset Management had the most valuable position in CONSOL Energy Inc. (NYSE:CNX), worth close to $654.8 million, accounting for 3.2% of its total 13F portfolio. Coming in second is Bill Miller of Legg Mason Capital Management, with a $56.7 million position; the fund has 1% of its 13F portfolio invested in the stock. Some other peers that hold long positions include Israel Englander’s Millennium Management, Andrew Feldstein and Stephen Siderow’s Blue Mountain Capital and Mario Gabelli’s GAMCO Investors.

As CONSOL Energy Inc. (NYSE:CNX) has witnessed dropping sentiment from the entirety of the hedge funds we track, it’s easy to see that there exists a select few hedgies who were dropping their entire stakes in Q1. Interestingly, Dmitry Balyasny’s Balyasny Asset Management said goodbye to the largest stake of the “upper crust” of funds we track, valued at close to $23.7 million in stock, and Bruce J. Richards and Louis Hanover of Marathon Asset Management was right behind this move, as the fund said goodbye to about $20.2 million worth. These moves are important to note, as aggregate hedge fund interest fell by 7 funds in Q1.

What do corporate executives and insiders think about CONSOL Energy Inc. (NYSE:CNX)?

Bullish insider trading is most useful when the company we’re looking at has seen transactions within the past six months. Over the latest six-month time period, CONSOL Energy Inc. (NYSE:CNX) has seen zero unique insiders buying, and 1 insider sales (see the details of insider trades here).

We’ll go over the relationship between both of these indicators in other stocks similar to CONSOL Energy Inc. (NYSE:CNX). These stocks are Central Fund of Canada Limited (USA) (NYSEAMEX:CEF), Peabody Energy Corporation (NYSE:BTU), Turquoise Hill Resources Ltd (NYSE:TRQ), Yanzhou Coal Mining Co Ltd (ADR) (NYSE:YZC), and Cameco Corporation (USA) (NYSE:CCJ). This group of stocks are the members of the industrial metals & minerals industry and their market caps are similar to CNX’s market cap.

Page 1 of 2
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 9 Most Dangerous Countries for Tourists to Visit

Reign of Terror: The 10 Most Ruthless Politicians in History

On the Move: The 10 Fastest Growing Businesses in 2015

Fast Money: The 10 Highest Paying Fast Food Restaurants

Mixing It Up: The 14 Best Music Mashups of 2014

Rito Pls Buff: The 10 Least Played Champions in LoL Season 4

10 Covers of Popular Songs that are Better than the Originals

Must See TV: The 9 Most Anticipated Shows of 2015

The 15 Biggest Box Office Bombs of All Time

10 Things The World Can’t Stand About Americans

Picture Perfect: The 6 Smartphones with the Best Cameras

The 10 Best Countries To Work In the World

A Profitable Day At The Track: 5 Tips For Betting On Horses

Tearing You Apart: 6 Bad Habits That Ruin Relationships

Learning on the Job: The 6 Biggest Mistakes Parents Make

Shopaholics Rejoice: The 12 Biggest Malls in the World

Fright Night: 10 Horror Movies Based on True Stories

Mach Mania: The 10 Fastest Jets in the World

Military Heavyweights: The 10 Countries with the Most Tanks

All In: The 7 Richest Poker Players in the World

Abracadabra: The 10 Best Magicians in the World

The 10 Richest Asian Countries in the World in 2014

Eyes in the Sky: 10 Things You Need to Know About Drones

Rising Stars: The 6 Best Silicon Valley Startups

Military Muscle: The 5 Most Advanced Armies in South America

All that Glitters: The 7 Most Luxurious Jewelry Brands in the World

5 Things You Didn’t Know About ISIS but Should

Empowering Your Money: The 5 Best Energy Stocks to Invest In

The 11 Best Android Apps You Can’t Get on iOS

The 10 Most Important International Conflicts in 2014

Mood Enhancers: The 20 Most Uplifting Songs of all Time

Lover Beware: The 8 Countries that Cheat the Most

Breath of Fresh Air: The 25 Countries with the Best Air Quality on the Planet

Singles Beware: The 8 Worst Mistakes Made on First Dates

Healthy and Happy: The 10 Countries with Lowest Healthcare Costs

The 6 Best Company Team Building Activities to Build Workplace Camaraderie

Ships Ahoy: The 10 Busiest Shipping Ports in the World

10 Productivity Tips to Save You Time and Help You Do More With Less

Grab a Bite: The Most Popular Fast Food Restaurants in America

Friday Night Thirst: The 10 Most Popular Cocktails in the World

The 6 Greatest Unsolved Mysteries We May Never Figure Out

7 Useless Products You Never Should’ve Bought

The 5 Reasons Why You’re Single and Miserable

The 7 Most Addictive Foods in the World We Can’t Stop Eating (Even Though We Should)

5 Amazing Places You Can Swim with Dolphins

The Top 7 Most Livable Countries In The World

The 10 Most Expensive Baseball Cards Ever Pulled From A Pack

The 5 Easiest Second Languages to Learn for English Speakers

Silver Spoon: The 6 Richest Families in the World

The 20 Countries with the Largest Prison Populations in the World

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!