Hedge Funds Say These Penny Stocks are Poised to Explode

SandRidge Energy Inc. (NYSE:SD) was included in the equity portfolio of 18 funds from our database at the end of June, although the value of their stakes slumped to $97.59 million from $241.42 million three months earlier. However, as the stock lost 70% of its value during the second quarter, investors that we track still amassed around 23% of the company. Moreover, a number of funds from our database more than doubled their stakes in SandRidge Energy Inc. (NYSE:SD) between April and June. Among them, Cliff Asness’ AQR Capital Management and Israel Englander’s Millennium Management, raised their positions by 149% and 162% to 3.72 million shares and 1.69 million shares. The largest shareholder of SandRidge Energy Inc. (NYSE:SD) in our database was Prem Watsa’s Fairfax Financial Holdings, which held 50.89 million shares worth $44.45 million; the position accounted for 3.25% of its 13F portfolio at the end of June.