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
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. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

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

The Top 10 Richest Actors in the World

The 10 Best Airline Stocks to Invest In Before They Fly Too High

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!