CH Energy Group Inc (NYSE:CHG) was in 7 hedge funds’ portfolio at the end of March. CHG has seen an increase in support from the world’s most elite money managers of late. There were 5 hedge funds in our database with CHG holdings at the end of the previous quarter.
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With all of this in mind, let’s take a look at the latest action encompassing CH Energy Group Inc (NYSE:CHG).
How are hedge funds trading CH Energy Group Inc (NYSE:CHG)?
At the end of the first quarter, a total of 7 of the hedge funds we track were bullish in this stock, a change of 40% from the previous quarter. With the smart money’s capital changing hands, there exists an “upper tier” of notable hedge fund managers who were upping their stakes considerably.
When looking at the hedgies we track, Cliff Asness’s AQR Capital Management had the biggest position in CH Energy Group Inc (NYSE:CHG), worth close to $47.6 million, comprising 0.2% of its total 13F portfolio. The second largest stake is held by Mario Gabelli of GAMCO Investors, with a $36.4 million position; 0.2% of its 13F portfolio is allocated to the company. Some other hedgies that hold long positions include Jim Simons’s Renaissance Technologies, D. E. Shaw’s D E Shaw and Matthew Tewksbury’s Stevens Capital Management.
Now, key hedge funds were leading the bulls’ herd. Stevens Capital Management, managed by Matthew Tewksbury, created the largest position in CH Energy Group Inc (NYSE:CHG). Stevens Capital Management had 0.6 million invested in the company at the end of the quarter. Israel Englander’s Millennium Management also initiated a $0.3 million position during the quarter. The only other fund with a brand new CHG position is David Harding’s Winton Capital Management.
What do corporate executives and insiders think about CH Energy Group Inc (NYSE:CHG)?
Insider purchases made by high-level executives is best served when the company in focus has experienced transactions within the past six months. Over the last 180-day time period, CH Energy Group Inc (NYSE:CHG) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).
Let’s also review hedge fund and insider activity in other stocks similar to CH Energy Group Inc (NYSE:CHG). These stocks are Avista Corp (NYSE:AVA), NorthWestern Corp (NYSE:NWE), MGE Energy, Inc. (NASDAQ:MGEE), Otter Tail Corporation (NASDAQ:OTTR), and Just Energy Group, Inc. Ordinary Shares (Canada) (NYSE:JE). All of these stocks are in the diversified utilities industry and their market caps are closest to CHG’s market cap.