MDU Resources Group Inc (NYSE:MDU) was in 8 hedge funds’ portfolio at the end of the fourth quarter of 2012. MDU investors should be aware of a decrease in hedge fund interest in recent months. There were 8 hedge funds in our database with MDU positions at the end of the previous quarter.
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Keeping this in mind, let’s take a peek at the recent action encompassing MDU Resources Group Inc (NYSE:MDU).
Hedge fund activity in MDU Resources Group Inc (NYSE:MDU)
In preparation for this year, a total of 8 of the hedge funds we track were long in this stock, a change of 0% from one quarter earlier. With hedgies’ sentiment swirling, there exists a few notable hedge fund managers who were increasing their stakes significantly.
Of the funds we track, Citadel Investment Group, managed by Ken Griffin, holds the most valuable position in MDU Resources Group Inc (NYSE:MDU). Citadel Investment Group has a $14.5 million position in the stock, comprising less than 0.1%% of its 13F portfolio. Sitting at the No. 2 spot is Millennium Management, managed by Israel Englander, which held a $12.4 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Remaining hedge funds that are bullish include Cliff Asness’s AQR Capital Management, D. E. Shaw’s D E Shaw and Steven Cohen’s SAC Capital Advisors.
Because MDU Resources Group Inc (NYSE:MDU) has witnessed declining sentiment from the entirety of the hedge funds we track, it’s safe to say that there lies a certain “tier” of money managers who sold off their entire stakes last quarter. It’s worth mentioning that Joseph Vidich’s Manalapan Oracle Capital Management sold off the largest investment of all the hedgies we key on, worth close to $1 million in stock., and Bill Miller of Legg Mason Capital Management was right behind this move, as the fund sold off about $0 million worth. These bearish behaviors are intriguing to say the least, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).
How have insiders been trading MDU Resources Group Inc (NYSE:MDU)?
Insider purchases made by high-level executives is particularly usable when the company in focus has experienced transactions within the past six months. Over the latest six-month time frame, MDU Resources Group Inc (NYSE:MDU) has seen 1 unique insiders purchasing, and 1 insider sales (see the details of insider trades here).
Let’s also review hedge fund and insider activity in other stocks similar to MDU Resources Group Inc (NYSE:MDU). These stocks are RPC, Inc. (NYSE:RES), Core Laboratories N.V. (NYSE:CLB), Dril-Quip, Inc. (NYSE:DRQ), Superior Energy Services, Inc. (NYSE:SPN), and Oil States International, Inc. (NYSE:OIS). This group of stocks are in the oil & gas equipment & services industry and their market caps are similar to MDU’s market cap.