In today’s marketplace, there are a multitude of indicators investors can use to monitor publicly traded companies. A duo of the most underrated are hedge fund and insider trading interest. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the elite money managers can outclass the broader indices by a very impressive margin (see just how much).
Just as necessary, positive insider trading activity is a second way to look at the financial markets. As the old adage goes: there are a variety of motivations for a corporate insider to cut shares of his or her company, but only one, very clear reason why they would initiate a purchase. Plenty of empirical studies have demonstrated the impressive potential of this strategy if investors know where to look (learn more here).
Furthermore, it's important to analyze the newest info about Cameron International Corporation (NYSE:CAM).
At Q2's end, a total of 33 of the hedge funds we track were long in this stock, a change of 6% from the first quarter. With hedgies' positions undergoing their usual ebb and flow, there exists a select group of key hedge fund managers who were increasing their stakes meaningfully.
Out of the hedge funds we follow, Steven Richman's East Side Capital (RR Partners) had the most valuable position in Cameron International Corporation (NYSE:CAM), worth close to $183 million, comprising 8.9% of its total 13F portfolio. Sitting at the No. 2 spot is Lee Ainslie of Maverick Capital, with a $110.2 million position; the fund has 1.5% of its 13F portfolio invested in the stock. Other hedgies that hold long positions include Ken Griffin's Citadel Investment Group, David Stemerman's Conatus Capital Management and Martin D. Sass's MD Sass.
Now, specific money managers were breaking ground themselves. East Side Capital (RR Partners), managed by Steven Richman, created the most valuable position in Cameron International Corporation (NYSE:CAM). East Side Capital (RR Partners) had 183 million invested in the company at the end of the quarter. Lee Ainslie's Maverick Capital also made a $110.2 million investment in the stock during the quarter. The following funds were also among the new CAM investors: Ken Griffin's Citadel Investment Group, David Stemerman's Conatus Capital Management, and Martin D. Sass's MD Sass.
Legal insider trading, particularly when it's bullish, is most useful when the company in focus has seen transactions within the past 180 days. Over the last 180-day time frame, Cameron International Corporation (NYSE:CAM) has seen zero unique insiders buying, and 5 insider sales (see the details of insider trades here).
We'll also review the relationship between both of these indicators in other stocks similar to Cameron International Corporation (NYSE:CAM). These stocks are Oceaneering International (NYSE:OII), National-Oilwell Varco, Inc. (NYSE:NOV), Weatherford International Ltd (NYSE:WFT), Baker Hughes Incorporated (NYSE:BHI), and FMC Technologies, Inc. (NYSE:FTI). This group of stocks belong to the oil & gas equipment & services industry and their market caps are closest to CAM's market cap.