Is Edison International (NYSE:EIX) a good investment?
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Furthermore, let’s analyze the newest info surrounding Edison International (NYSE:EIX).
How are hedge funds trading Edison International (NYSE:EIX)?
Heading into Q3, a total of 19 of the hedge funds we track held long positions in this stock, a change of -5% from one quarter earlier. With hedge funds’ positions undergoing their usual ebb and flow, there exists a select group of notable hedge fund managers who were increasing their stakes substantially.
When using filings from the hedgies we track, First Eagle Investment Management, managed by Matt McLennan, holds the largest position in Edison International (NYSE:EIX). First Eagle Investment Management has a $170.9 million position in the stock, comprising 0.5% of its 13F portfolio. Sitting at the No. 2 spot is Adage Capital Management, managed by Phill Gross and Robert Atchinson, which held a $152.2 million position; the fund has 0.5% of its 13F portfolio invested in the stock. Other hedgies that are bullish include Cliff Asness’s AQR Capital Management, Glenn Russell Dubin’s Highbridge Capital Management and David Harding’s Winton Capital Management.
Due to the fact Edison International (NYSE:EIX) has experienced dropping sentiment from the top-tier hedge fund industry, it’s easy to see that there exists a select few money managers that decided to sell off their positions entirely at the end of the second quarter. It’s worth mentioning that Clint Carlson’s Carlson Capital dumped the largest stake of all the hedgies we watch, worth an estimated $42.3 million in stock. John Overdeck and David Siegel’s fund, Two Sigma Advisors, also dropped its stock, about $24.7 million worth. These moves are interesting, as total hedge fund interest dropped by 1 funds at the end of the second quarter.
What do corporate executives and insiders think about Edison International (NYSE:EIX)?
Insider buying made by high-level executives is most useful when the primary stock in question has seen transactions within the past six months. Over the latest 180-day time period, Edison International (NYSE:EIX) has experienced zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
We’ll also take a look at the relationship between both of these indicators in other stocks similar to Edison International (NYSE:EIX). These stocks are PPL Corporation (NYSE:PPL), Huaneng Power International Inc (ADR) (NYSE:HNP), Consolidated Edison, Inc. (NYSE:ED), FirstEnergy Corp. (NYSE:FE), and Korea Electric Power Corporation (ADR) (NYSE:KEP). All of these stocks are in the electric utilities industry and their market caps match EIX’s market cap.