Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Hedge Funds Are Selling Triangle Petroleum Corporation (TPLM)

Triangle Petroleum Corporation (NYSEAMEX:TPLM) has experienced a decrease in hedge fund sentiment in recent months.

To the average investor, there are many gauges market participants can use to analyze their holdings. Some of the most innovative are hedge fund and insider trading movement. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the best money managers can outclass the broader indices by a significant margin (see just how much).

Richard Driehaus

Just as integral, bullish insider trading sentiment is a second way to break down the world of equities. There are a number of reasons for a corporate insider to get rid of shares of his or her company, but just one, very obvious reason why they would initiate a purchase. Several academic studies have demonstrated the useful potential of this method if shareholders understand what to do (learn more here).

Keeping this in mind, let’s take a glance at the recent action encompassing Triangle Petroleum Corporation (NYSEAMEX:TPLM).

How are hedge funds trading Triangle Petroleum Corporation (NYSEAMEX:TPLM)?

In preparation for this year, a total of 8 of the hedge funds we track were long in this stock, a change of -11% from the previous quarter. With hedgies’ capital changing hands, there exists an “upper tier” of key hedge fund managers who were boosting their holdings significantly.

Of the funds we track, Royce & Associates, managed by Chuck Royce, holds the biggest position in Triangle Petroleum Corporation (NYSEAMEX:TPLM). Royce & Associates has a $7.2 million position in the stock, comprising less than 0.1%% of its 13F portfolio. Coming in second is Driehaus Capital, managed by Richard Driehaus, which held a $1 million position; less than 0.1%% of its 13F portfolio is allocated to the company. Some other peers with similar optimism include Stanley Shopkorn and Douglas Day’s Hilltop Park Associates, Gregory Fraser, Rudolph Kluiber, and Timothy Kroch’s GRT Capital Partners and Andrew Wallach’s Cumberland Associates.

Due to the fact that Triangle Petroleum Corporation (NYSEAMEX:TPLM) has faced falling interest from the aggregate hedge fund industry, we can see that there was a specific group of fund managers that decided to sell off their positions entirely in Q4. At the top of the heap, Richard Chilton’s Chilton Investment Company said goodbye to the largest stake of the 450+ funds we watch, comprising an estimated $1.4 million in stock., and Israel Englander of Millennium Management was right behind this move, as the fund cut about $0.3 million worth. These moves are interesting, as total hedge fund interest dropped by 1 funds in Q4.

How have insiders been trading Triangle Petroleum Corporation (NYSEAMEX:TPLM)?

Insider purchases made by high-level executives is particularly usable when the primary stock in question has seen transactions within the past 180 days. Over the latest half-year time frame, Triangle Petroleum Corporation (NYSEAMEX:TPLM) has experienced 1 unique insiders purchasing, and 3 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 Triangle Petroleum Corporation (NYSEAMEX:TPLM). These stocks are LRR Energy LP (NYSE:LRE), VAALCO Energy, Inc. (NYSE:EGY), Apco Oil and Gas International Inc (NASDAQ:APAGF), Quicksilver Resources Inc (NYSE:KWK), and Sandridge Mississippian Trust I (NYSE:SDT). All of these stocks are in the independent oil & gas industry and their market caps are similar to TPLM’s market cap.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.