Do Hedge Funds Love CNX Coal Resources LP (CNXC)?

Page 2 of 2

Now, specific money managers have jumped into CNX Coal Resources LP (NYSE:CNXC) headfirst. Hedge funds with new positions in the stock are Huber Capital Management, Wexford Capital, and EJF Capital.

Let’s check out hedge fund activity in other stocks similar to CNX Coal Resources LP (NYSE:CNXC). We will take a look at Syneron Medical Ltd. (NASDAQ:ELOS), Compugen Ltd. (USA) (NASDAQ:CGEN), Pacific Continental Corporation (NASDAQ:PCBK), and Oncothyreon Inc (USA) (NASDAQ:ONTY). This group of stocks’ market valuations are similar to CNX Coal Resources LP (NYSE:CNXC)’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
ELOS 18 94139 -4
CGEN 4 3124 1
PCBK 8 30991 1
ONTY 19 84063 1

As you can see, these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $53 million. That figure was $71 million in CNX Coal Resources LP (NYSE:CNXC)’s case. Oncothyreon Inc (USA) (NASDAQ:ONTY) is the most popular stock in this table. On the other hand, Compugen Ltd. (USA) (NASDAQ:CGEN) is the least popular one with only 4 bullish hedge fund positions. CNX Coal Resources LP (NYSE:CNXC) is not the least popular stock in this group, but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard, Oncothyreon Inc (USA) (NASDAQ:ONTY) might be a better candidate to consider a long position.

Page 2 of 2