Is Alliant Energy Corporation (NYSE:LNT) a safe investment now? Hedge funds are selling. The number of long hedge fund positions decreased by 2 lately.
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Now, it’s important to take a glance at the recent action surrounding Alliant Energy Corporation (NYSE:LNT).
What does the smart money think about Alliant Energy Corporation (NYSE:LNT)?
Heading into Q2, a total of 13 of the hedge funds we track were bullish in this stock, a change of -13% from one quarter earlier. With the smart money’s sentiment swirling, there exists a select group of key hedge fund managers who were upping their stakes meaningfully.
Of the funds we track, Millennium Management, managed by Israel Englander, holds the biggest position in Alliant Energy Corporation (NYSE:LNT). Millennium Management has a $67.7 million position in the stock, comprising 0.3% of its 13F portfolio. On Millennium Management’s heels is D. E. Shaw of D E Shaw, with a $18.9 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Other peers with similar optimism include Ken Griffin’s Citadel Investment Group, Jacob Gottlieb’s Visium Asset Management and Cliff Asness’s AQR Capital Management.
Judging by the fact that Alliant Energy Corporation (NYSE:LNT) has faced a declination in interest from hedge fund managers, it’s easy to see that there is a sect of funds that slashed their entire stakes in Q1. Intriguingly, John Overdeck and David Siegel’s Two Sigma Advisors sold off the largest investment of all the hedgies we track, totaling about $2.3 million in stock., and Ken Gray and Steve Walsh of Bryn Mawr Capital was right behind this move, as the fund said goodbye to about $2.2 million worth. These transactions are interesting, as aggregate hedge fund interest fell by 2 funds in Q1.
What do corporate executives and insiders think about Alliant Energy Corporation (NYSE:LNT)?
Bullish insider trading is at its handiest when the primary stock in question has experienced transactions within the past six months. Over the latest 180-day time frame, Alliant Energy Corporation (NYSE:LNT) has seen zero unique insiders buying, and 1 insider sales (see the details of insider trades here).
Let’s also take a look at hedge fund and insider activity in other stocks similar to Alliant Energy Corporation (NYSE:LNT). These stocks are Centrais Eletricas Brasileiras SA (ADR) (NYSE:EBR), ITC Holdings Corp. (NYSE:ITC), Pinnacle West Capital Corporation (NYSE:PNW), Pepco Holdings, Inc. (NYSE:POM), and Brookfield Infrastructure Partners L.P. (NYSE:BIP). All of these stocks are in the electric utilities industry and their market caps resemble LNT’s market cap.