What’s the Deal With These 5 Surging Stocks?

Atwood Oceanics, Inc. (NYSE:ATW) is also up, by about 19.4% on Thursday afternoon. Offshore drillers in general were on the rise today, as increasing oil prices helped alleviate concerns about the challenging state of the market. Some analysts also attributed the surge to the company’s fourth quarter financial results, which included earnings and revenue beats. The figures were announced after the market closed on Tuesday.

Among the funds benefiting from this spike, we can highlight Israel Englander’s Millennium Management. As of the end of the third quarter of 2015, the firm disclosed ownership of 2.63 million shares of Atwood Oceanics, Inc. (NYSE:ATW), or about 4% of its total shares.

Buffalo Wild Wings (NASDAQ:BWLD) is another one of today’s gainers, up by more than 6.5% after the company announced its fourth quarter financial results on Wednesday evening. The restaurant operator and franchisor reported earnings of $1.49 per share, beating the Street’s consensus of $1.47 per share. However, revenue of $490.22 million missed the $508.73 million estimate.

As of the end of September, Buffalo Wild Wings (NASDAQ:BWLD) counted 21 hedge fund supporters among those firms in our database. That represented a 19.2% quarter-over-quarter decline in hedge fund backing.

Finally, there’s Royal Gold, Inc USA) (NASDAQ:RGLD), which reported its second quarter of fiscal year 2016 financial results before the market opened, and has gained more than 14.6% since. Earnings of $0.23 per share beat estimates by $0.01, while revenue of $98.12 million came in well ahead of the $85.8 million consensus.

Among the investment firms profiting from this surge, we can count First Eagle Investment Management, which disclosed ownership of 4.22 million shares of Royal Gold, Inc USA) (NASDAQ:RGLD) as of September 30.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned in this article.