Here is What Hedge Funds Think About Companhia Paranaense de Energia (ADR) (ELP)

Page 1 of 2

Companhia Paranaense de Energia (ADR) (NYSE:ELP) was in 6 hedge funds’ portfolio at the end of the fourth quarter of 2012. ELP investors should pay attention to a decrease in enthusiasm from smart money of late. There were 7 hedge funds in our database with ELP positions at the end of the previous quarter.

Companhia Paranaense de Energia (ADR) (NYSE:ELP)

If you’d ask most market participants, hedge funds are perceived as slow, old financial vehicles of years past. While there are more than 8000 funds with their doors open at the moment, we at Insider Monkey choose to focus on the leaders of this club, about 450 funds. Most estimates calculate that this group controls the majority of all hedge funds’ total capital, and by paying attention to their top equity investments, we have revealed a few investment strategies that have historically outstripped the broader indices. Our small-cap hedge fund strategy outperformed the S&P 500 index by 18 percentage points annually for a decade in our back tests, and since we’ve began to sharing our picks with our subscribers at the end of August 2012, we have outperformed the S&P 500 index by 24 percentage points in 7 months (check out a sample of our picks).

Just as important, bullish insider trading activity is another way to parse down the investments you’re interested in. There are plenty of motivations for an insider to cut shares of his or her company, but only one, very clear reason why they would behave bullishly. Several empirical studies have demonstrated the useful potential of this method if you know what to do (learn more here).

Consequently, we’re going to take a glance at the latest action regarding Companhia Paranaense de Energia (ADR) (NYSE:ELP).

How are hedge funds trading Companhia Paranaense de Energia (ADR) (NYSE:ELP)?

In preparation for this year, a total of 6 of the hedge funds we track were bullish in this stock, a change of -14% from the previous quarter. With the smart money’s capital changing hands, there exists a select group of notable hedge fund managers who were upping their stakes substantially.

When looking at the hedgies we track, Jim Simons’s Renaissance Technologies had the biggest position in Companhia Paranaense de Energia (ADR) (NYSE:ELP), worth close to $8.9 million, comprising less than 0.1%% of its total 13F portfolio. Coming in second is Cliff Asness of AQR Capital Management, with a $2.9 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Other hedge funds that hold long positions include Ken Griffin’s Citadel Investment Group, Steven Cohen’s SAC Capital Advisors and John Overdeck and David Siegel’s Two Sigma Advisors.

Because Companhia Paranaense de Energia (ADR) (NYSE:ELP) has witnessed bearish sentiment from the entirety of the hedge funds we track, we can see that there lies a certain “tier” of hedgies who were dropping their full holdings last quarter. It’s worth mentioning that J. Alan Reid, Jr.’s Forward Management sold off the largest stake of the “upper crust” of funds we watch, valued at close to $1.4 million in stock.. Israel Englander’s fund, Millennium Management, also dumped its stock, about $0.4 million worth. These moves are intriguing to say the least, as aggregate hedge fund interest fell by 1 funds last quarter.

What have insiders been doing with Companhia Paranaense de Energia (ADR) (NYSE:ELP)?

Bullish insider trading is most useful when the company in question has experienced transactions within the past six months. Over the latest six-month time frame, Companhia Paranaense de Energia (ADR) (NYSE:ELP) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).

Let’s also examine hedge fund and insider activity in other stocks similar to Companhia Paranaense de Energia (ADR) (NYSE:ELP). These stocks are Great Plains Energy Incorporated (NYSE:GXP), Pepco Holdings, Inc. (NYSE:POM), ITC Holdings Corp. (NYSE:ITC), TECO Energy, Inc. (NYSE:TE), and Centrais Eletricas Brasileiras SA (ADR) (NYSE:EBR). This group of stocks belong to the electric utilities industry and their market caps are similar to ELP’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 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

The 10 Most Peaceful Countries in the World

5 Big Reasons Communism Failed

The 15 Most Famous Carl Icahn Quotes

10 Scary Animals that are Actually Harmless

The 8 Most Famous Singer-Actors in Entertainment

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!