Should You Buy The Empire District Electric Company (EDE)?

Page 1 of 2

The Empire District Electric CompanyThe Empire District Electric Company (NYSE:EDE) was in 5 hedge funds’ portfolio at the end of the first quarter of 2013. EDE has experienced an increase in hedge fund interest of late. There were 4 hedge funds in our database with EDE positions at the end of the previous quarter.

To most shareholders, hedge funds are viewed as slow, outdated investment vehicles of years past. While there are over 8000 funds trading at present, we at Insider Monkey hone in on the crème de la crème of this club, close to 450 funds. Most estimates calculate that this group oversees the majority of all hedge funds’ total capital, and by tracking their top stock picks, we have found a few investment strategies that have historically beaten the broader indices. Our small-cap hedge fund strategy outstripped the S&P 500 index by 18 percentage points annually 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 outpaced the S&P 500 index by 23.3 percentage points in 8 months (see the details here).

Just as important, positive insider trading sentiment is a second way to parse down the stock market universe. Just as you’d expect, there are many reasons for an insider to downsize shares of his or her company, but just one, very obvious reason why they would initiate a purchase. Many empirical studies have demonstrated the useful potential of this tactic if piggybackers know what to do (learn more here).

Consequently, let’s take a gander at the key action surrounding The Empire District Electric Company (NYSE:EDE).

How have hedgies been trading The Empire District Electric Company (NYSE:EDE)?

At Q1′s end, a total of 5 of the hedge funds we track were bullish in this stock, a change of 25% from the first quarter. 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 considerably.

When looking at the hedgies we track, Jim Simons’s Renaissance Technologies had the largest position in The Empire District Electric Company (NYSE:EDE), worth close to $6.2 million, accounting for less than 0.1%% of its total 13F portfolio. Sitting at the No. 2 spot is Israel Englander of Millennium Management, with a $3 million position; less than 0.1%% of its 13F portfolio is allocated to the stock. Some other hedge funds with similar optimism include D. E. Shaw’s D E Shaw, Thomas M. Fitzgerald’s Longbow Capital Partners and Ken Griffin’s Citadel Investment Group.

As aggregate interest increased, key hedge funds were breaking ground themselves. Longbow Capital Partners, managed by Thomas M. Fitzgerald, initiated the most outsized position in The Empire District Electric Company (NYSE:EDE). Longbow Capital Partners had 1.3 million invested in the company at the end of the quarter.

What do corporate executives and insiders think about The Empire District Electric Company (NYSE:EDE)?

Insider buying is most useful when the company in focus has seen transactions within the past 180 days. Over the latest half-year time frame, The Empire District Electric Company (NYSE:EDE) has experienced zero unique insiders buying, and 2 insider sales (see the details of insider trades here).

Let’s also examine hedge fund and insider activity in other stocks similar to The Empire District Electric Company (NYSE:EDE). These stocks are UIL Holdings Corporation (NYSE:UIL), Black Hills Corp (NYSE:BKH), Atlantic Power Corp (NYSE:AT), El Paso Electric Company (NYSE:EE), and Ormat Technologies, Inc. (NYSE:ORA). This group of stocks belong to the electric utilities industry and their market caps resemble EDE’s market cap.

Page 1 of 2
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The 12 Biggest Shopping Centers in the World

The 10 Friendliest Countries in the World

Qihoo 360 Technology Co Ltd (QIHU), Actavis plc (ACT), Yahoo! Inc. (YHOO) Among 20 Long Ideas from Sohn Canada

The 10 Laziest Countries in the World

The 10 Most Polluted Countries in the World

The 10 Most Dangerous Cities in America 2014

The Top 10 Gold Producing Countries in the World

The 10 Tallest Buildings in the World

The 10 Richest Stand Up Comedians in the World

The 10 Fattest Countries in the World

The 5 Best Summer Jobs for Teens

The 10 Most Religious Countries in the World Keeping the Faith

The 10 Most Educated Countries in the World

The 10 Most Popular Cell Phones in the World

The 10 Drunkest Countries in the World

The 10 Most Expensive Private Schools in the World

The 10 Smallest Countries in the World

Walking Dead Season 5 Spoilers You’ll Wish You Didn’t Know

The 10 Poorest Countries in the World

The 10 Greenest Countries in the World

The Top 10 Countries with the Highest Population in the World

The 10 Most Visited Countries in the World

The Top 10 Star Wars Characters in the Iconic Series

The 10 Most Expensive Android Phones in the World

5 Reasons Why The Illuminati Is Real and a Threat to Society

The 6 Scariest Halloween Costumes Ever Screamed At

The 4 Biggest Hedge Fund Managers in the World Today

The 15 Most Densely Populated Countries in the World

The 10 Biggest Tea Drinking Countries in the World

Top 6 Ways to Improve Your Checkout Process and Close Sales

The 5 Most Profitable Online Businesses You Can Start Today

The 20 Most Profitable Hospitals in the US

The 5 Most Profitable Home Businesses to Start

The 7 Teams that Will Win the Stanley Cup in 2015

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!