Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Here is What Hedge Funds Think About EnerNOC, Inc. (ENOC): ICG Group Inc. (ICGE), Envestnet Inc (ENV)

EnerNOC, Inc. (NASDAQ:ENOC) was in 12 hedge funds’ portfolio at the end of December. ENOC investors should be aware of an increase in support from the world’s most elite money managers recently. There were 8 hedge funds in our database with ENOC holdings at the end of the previous quarter.

EnerNOC, Inc. (NASDAQ:ENOC)If you’d ask most investors, hedge funds are viewed as unimportant, outdated financial tools of years past. While there are greater than 8000 funds in operation today, we at Insider Monkey look at the bigwigs of this club, close to 450 funds. It is estimated that this group has its hands on the lion’s share of all hedge funds’ total capital, and by paying attention to their highest performing picks, we have formulated a few investment strategies that have historically outstripped the broader indices. Our small-cap hedge fund strategy beat the S&P 500 index by 18 percentage points a year 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 25 percentage points in 6.5 month (explore the details and some picks here).

Equally as integral, optimistic insider trading activity is a second way to break down the world of equities. There are lots of stimuli for a bullish insider to drop shares of his or her company, but only one, very clear reason why they would behave bullishly. Various academic studies have demonstrated the market-beating potential of this method if investors know what to do (learn more here).

Now, let’s take a look at the key action encompassing EnerNOC, Inc. (NASDAQ:ENOC).

What have hedge funds been doing with EnerNOC, Inc. (NASDAQ:ENOC)?

At year’s end, a total of 12 of the hedge funds we track were long in this stock, a change of 50% from the third quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists a select group of key hedge fund managers who were upping their stakes meaningfully.

Of the funds we track, Adage Capital Management, managed by Phill Gross and Robert Atchinson, holds the largest position in EnerNOC, Inc. (NASDAQ:ENOC). Adage Capital Management has a $12 million position in the stock, comprising 0% of its 13F portfolio. Coming in second is Jim Simons of Renaissance Technologies, with a $9 million position; 0% of its 13F portfolio is allocated to the stock. Other hedge funds with similar optimism include Israel Englander’s Millennium Management, Brian Ashford-Russell and Tim Woolley’s Polar Capital and D. E. Shaw’s D E Shaw.

Consequently, key money managers were leading the bulls’ herd. Bryn Mawr Capital, managed by Ken Gray and Steve Walsh, established the most valuable position in EnerNOC, Inc. (NASDAQ:ENOC). Bryn Mawr Capital had 1 million invested in the company at the end of the quarter. Glenn Russell Dubin’s Highbridge Capital Management also initiated a $0 million position during the quarter. The following funds were also among the new ENOC investors: John Overdeck and David Siegel’s Two Sigma Advisors, Steven Cohen’s SAC Capital Advisors, and Paul Tudor Jones’s Tudor Investment Corp.

How have insiders been trading EnerNOC, Inc. (NASDAQ:ENOC)?

Insider trading activity, especially when it’s bullish, is most useful when the company in focus has seen transactions within the past six months. Over the last six-month time period, EnerNOC, Inc. (NASDAQ:ENOC) has experienced zero unique insiders purchasing, and 5 insider sales (see the details of insider trades here).

Let’s also review hedge fund and insider activity in other stocks similar to EnerNOC, Inc. (NASDAQ:ENOC). These stocks are ICG Group Inc. (NASDAQ:ICGE), Envestnet Inc (NYSE:ENV), Cass Information Systems (NASDAQ:CASS), Viad Corp (NYSE:VVI), and Websense Inc. (NASDAQ:WBSN). This group of stocks are in the business services industry and their market caps are similar to ENOC’s market cap.

Company Name # of Hedge Funds # of Insiders Buying # of Insiders Selling
ICG Group Inc. (NASDAQ:ICGE) 2 0 2
Envestnet Inc (NYSE:ENV) 3 0 2
Cass Information Systems (NASDAQ:CASS) 1 0 5
Viad Corp (NYSE:VVI) 10 0 0
Websense Inc. (NASDAQ:WBSN) 14 0 0

With the returns shown by our tactics, retail investors must always monitor hedge fund and insider trading activity, and EnerNOC, Inc. (NASDAQ:ENOC) is no exception.

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

Insider Monkey’s small-cap strategy returned 37% between September 2012 and March 2013 versus 12.9% for the S&P 500 index. Try it now by clicking the link above.

Loading Comments...