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Hedge Funds Are Selling EQT Corporation (NYSE:EQT)

EQT Corporation (NYSE:EQT) was in 28 hedge funds’ portfolio at the end of December. EQT investors should pay attention to a decrease in support from the world’s most elite money managers of late. There were 30 hedge funds in our database with EQT positions at the end of the previous quarter.

To the average investor, there are a multitude of indicators investors can use to watch the equity markets. A couple of the most innovative are hedge fund and insider trading activity. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the best fund managers can beat their index-focused peers by a superb amount (see just how much).

EQT Midstream Partners LP (NYSE:EQM)

Equally as beneficial, bullish insider trading activity is another way to parse down the stock market universe. As the old adage goes: there are a number of incentives for a corporate insider to get rid of shares of his or her company, but only one, very clear reason why they would behave bullishly. Plenty of academic studies have demonstrated the useful potential of this tactic if you know where to look (learn more here).

With all of this in mind, we’re going to take a glance at the latest action surrounding EQT Corporation (NYSE:EQT).

What have hedge funds been doing with EQT Corporation (NYSE:EQT)?

At year’s end, a total of 28 of the hedge funds we track were long in this stock, a change of -7% from one quarter earlier. With the smart money’s sentiment swirling, there exists a few noteworthy hedge fund managers who were boosting their holdings considerably.

According to our comprehensive database, Edgar Wachenheim’s Greenhaven Associates had the biggest position in EQT Corporation (NYSE:EQT), worth close to $184 million billion, accounting for 5.6% of its total 13F portfolio. On Greenhaven Associates’s heels is Soros Fund Management, managed by George Soros, which held a $122 million position; the fund has 1.5% of its 13F portfolio invested in the stock. Other hedgies with similar optimism include Andreas Halvorsen’s Viking Global, Sean Cullinan’s Point State Capital and Ken Griffin’s Citadel Investment Group.

Judging by the fact that EQT Corporation (NYSE:EQT) has faced a declination in interest from hedge fund managers, it’s easy to see that there was a specific group of money managers that slashed their entire stakes heading into 2013. Interestingly, Robert Pohly’s Samlyn Capital sold off the biggest stake of the 450+ funds we monitor, totaling about $10 million in stock., and SAC Subsidiary of Sigma Capital Management was right behind this move, as the fund said goodbye to about $8 million worth. These bearish behaviors are important to note, as aggregate hedge fund interest was cut by 2 funds heading into 2013.

How are insiders trading EQT Corporation (NYSE:EQT)?

Insider purchases made by high-level executives is most useful when the company we’re looking at has seen transactions within the past six months. Over the last 180-day time period, EQT Corporation (NYSE:EQT) has seen 3 unique insiders purchasing, and 3 insider sales (see the details of insider trades here).

With the results exhibited by Insider Monkey’s strategies, everyday investors should always pay attention to hedge fund and insider trading activity, and EQT Corporation (NYSE:EQT) is an important part of this process.

Click here to learn more about Insider Monkey’s Hedge Fund Newsletter

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