Orion Marine Group, Inc. (NYSE:ORN) was in 9 hedge funds’ portfolio at the end of the fourth quarter of 2012. ORN investors should be aware of an increase in enthusiasm from smart money lately. There were 5 hedge funds in our database with ORN positions at the end of the previous quarter.
At the moment, there are a multitude of methods market participants can use to track Mr. Market. A duo of the most under-the-radar are hedge fund and insider trading sentiment. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the elite money managers can outpace the S&P 500 by a solid margin (see just how much).
Just as integral, positive insider trading activity is a second way to break down the stock market universe. As the old adage goes: there are lots of incentives for a bullish insider to sell shares of his or her company, but only one, very simple reason why they would buy. Various academic studies have demonstrated the impressive potential of this strategy if investors know where to look (learn more here).
Keeping this in mind, we’re going to take a look at the key action regarding Orion Marine Group, Inc. (NYSE:ORN).
What does the smart money think about Orion Marine Group, Inc. (NYSE:ORN)?
At year’s end, a total of 9 of the hedge funds we track were bullish in this stock, a change of 80% from the previous quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists a few noteworthy hedge fund managers who were boosting their stakes significantly.
According to our comprehensive database, ACK Asset Management, managed by “Richard S. Meisenberg, holds the biggest position in Orion Marine Group, Inc. (NYSE:ORN). ACK Asset Management has a $6 million position in the stock, comprising 2.9% of its 13F portfolio. The second largest stake is held by Cliff Asness of AQR Capital Management, with a $1 million position; 0% of its 13F portfolio is allocated to the stock. Other peers that hold long positions include David Cohen and Harold Levy’s Iridian Asset Management, Jim Simons’s Renaissance Technologies and John Overdeck and David Siegel’s Two Sigma Advisors.
With a general bullishness amongst the heavyweights, key money managers have jumped into Orion Marine Group, Inc. (NYSE:ORN) headfirst. Renaissance Technologies, managed by Jim Simons, assembled the most outsized position in Orion Marine Group, Inc. (NYSE:ORN). Renaissance Technologies had 0 million invested in the company at the end of the quarter. John Overdeck and David Siegel’s Two Sigma Advisors also initiated a $0 million position during the quarter. The other funds with brand new ORN positions are Ken Griffin’s Citadel Investment Group, Steven Cohen’s SAC Capital Advisors, and Ken Griffin’s Citadel Investment Group.
How have insiders been trading Orion Marine Group, Inc. (NYSE:ORN)?
Insider purchases made by high-level executives is at its handiest when the company we’re looking at has experienced transactions within the past 180 days. Over the latest half-year time frame, Orion Marine Group, Inc. (NYSE:ORN) has seen zero unique insiders purchasing, and 2 insider sales (see the details of insider trades here).
Let’s also review hedge fund and insider activity in other stocks similar to Orion Marine Group, Inc. (NYSE:ORN). These stocks are Layne Christensen Company (NASDAQ:LAYN), Sterling Construction Company, Inc. (NASDAQ:STRL), Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD), Matrix Service Co (NASDAQ:MTRX), and Argan, Inc. (NYSEAMEX:AGX). All of these stocks are in the heavy construction industry and their market caps are similar to ORN’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Layne Christensen Company (NASDAQ:LAYN) | 6 | 0 | 2 |
| Sterling Construction Company, Inc. (NASDAQ:STRL) | 6 | 2 | 1 |
| Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) | 14 | 1 | 2 |
| Matrix Service Co (NASDAQ:MTRX) | 9 | 0 | 3 |
| Argan, Inc. (NYSEAMEX:AGX) | 7 | 0 | 2 |
With the results demonstrated by our research, retail investors should always keep an eye on hedge fund and insider trading sentiment, and Orion Marine Group, Inc. (NYSE:ORN) is no exception.
