Hedge Funds Are Dumping Laclede Group Inc (LG)

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The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We have processed the filings of the more than 700 world-class investment firms that we track and now have access to the collective wisdom contained in these filings, which are based on their September 30 holdings, data that is available nowhere else. Should you consider Laclede Group Inc (NYSE:LG) for your portfolio? We’ll look to this invaluable collective wisdom for the answer.

Is Laclede Group Inc (NYSE:LG) going to take off soon? Investors who are in the know are in a bearish mood. The number of bullish hedge fund positions decreased by 1 lately. What is surprising is that the shares of Laclede Group Inc (NYSE:LG) gained 4.74% value during the quarter, prompting us to find out more about the hedge funds that had positions in the company, at the end of the previous quarter.

The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity, but it may still be less popular than similarly priced stocks. That’s why at the end of this article, we will examine companies such as Cantel Medical Corp. (NYSE:CMN), Churchill Downs, Inc. (NASDAQ:CHDN), and Murphy USA Inc (NYSE:MUSA) to gather more data points.

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In today’s marketplace, there are numerous formulas market participants have at their disposal to grade stocks. A duo of the less known formulas are hedge fund and insider trading moves. Our experts have shown that, historically, those who follow the best picks of the top fund managers can outclass the market by a significant margin (see the details here).

With all of this in mind, let’s take a gander at the fresh action regarding Laclede Group Inc (NYSE:LG).

Hedge fund activity in Laclede Group Inc (NYSE:LG)

Heading into Q4, a total of 8 of the hedge funds tracked by Insider Monkey were bullish on this stock, a decline of 11% from the second quarter. With hedge funds’ sentiment swirling, there exists a few key hedge fund managers who were boosting their stakes meaningfully (or already accumulated large positions).

Of the funds tracked by Insider Monkey, Luminus Management, managed by Jonathan Barrett and Paul Segal, holds the most valuable position in Laclede Group Inc (NYSE:LG). Luminus Management has a $54.7 million position in the stock, comprising 1.7% of its 13F portfolio. The second most bullish fund manager is Marshall Wace LLP, led by Paul Marshall and Ian Wace, holding a $9.3 million position; 0.1% of its 13F portfolio is allocated to the company. Some other professional money managers with similar optimism comprise D E Shaw, Stuart J. Zimmer’s Zimmer Partners, and Joel Greenblatt’s Gotham Asset Management.

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