Is Portland General Electric Company (NYSE:POR)
ready to rally soon? Money managers are in an optimistic mood. The number of bullish hedge fund positions improved by 2 in recent months.
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Equally as key, positive insider trading activity is another way to break down the investments you're interested in. Obviously, there are a variety of reasons for an upper level exec to drop shares of his or her company, but just one, very simple reason why they would initiate a purchase. Various academic studies have demonstrated the valuable potential of this method if investors understand what to do (learn more here
Keeping this in mind, let's take a peek at the key action encompassing Portland General Electric Company (NYSE:POR
How have hedgies been trading Portland General Electric Company (NYSE:POR)?
Heading into Q2, a total of 14 of the hedge funds we track held long positions in this stock, a change of 17% from the first quarter. With hedge funds' sentiment swirling, there exists a select group of notable hedge fund managers who were boosting their holdings significantly.
Of the funds we track, Dreman Value Management
, managed by David Dreman, holds the most valuable position in Portland General Electric Company (NYSE:POR). Dreman Value Management has a $37.7 million position in the stock, comprising 1% of its 13F portfolio. Coming in second is Adage Capital Management
, managed by Phill Gross and Robert Atchinson, which held a $24.3 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Some other hedge funds that hold long positions include Clint Carlson's Carlson Capital
, Jim Simons's Renaissance Technologies
and Cliff Asness's AQR Capital Management
Now, key hedge funds have jumped into Portland General Electric Company (NYSE:POR) headfirst. Millennium Management
, managed by Israel Englander, assembled the biggest position in Portland General Electric Company (NYSE:POR). Millennium Management had 4.9 million invested in the company at the end of the quarter. Joel Greenblatt's Gotham Asset Management
also made a $2.9 million investment in the stock during the quarter. The other funds with brand new POR positions are Steven Cohen's SAC Capital Advisors
, Matthew Tewksbury's Stevens Capital Management
, and Matthew Hulsizer's PEAK6 Capital Management
Insider trading activity in Portland General Electric Company (NYSE:POR)
Insider trading activity, especially when it's bullish, is best served when the company we're looking at has seen transactions within the past six months. Over the last half-year time period, Portland General Electric Company (NYSE:POR) has seen zero 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 Portland General Electric Company (NYSE:POR). These stocks are Hawaiian Electric Industries, Inc. (NYSE:HE
), Black Hills Corp (NYSE:BKH
), UIL Holdings Corporation (NYSE:UIL
), UNS Energy Corp (NYSE:UNS
), and IDACORP Inc (NYSE:IDA
). This group of stocks are in the electric utilities industry and their market caps are similar to POR's market cap.