Is Endeavour International Corporation (NYSE:END) worth your attention right now? Hedge funds are in a pessimistic mood. The number of long hedge fund bets shrunk by 2 recently.
In the 21st century investor’s toolkit, there are dozens of metrics investors can use to watch their holdings. Some of the most innovative are hedge fund and insider trading sentiment. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the elite money managers can outclass their index-focused peers by a superb margin (see just how much).
Equally as beneficial, optimistic insider trading activity is a second way to break down the financial markets. There are many reasons for an upper level exec to drop shares of his or her company, but just one, very obvious reason why they would behave bullishly. Various academic studies have demonstrated the market-beating potential of this tactic if “monkeys” understand what to do (learn more here).
Keeping this in mind, it’s important to take a look at the key action encompassing Endeavour International Corporation (NYSE:END).
What have hedge funds been doing with Endeavour International Corporation (NYSE:END)?
At year’s end, a total of 7 of the hedge funds we track were long in this stock, a change of -22% from one quarter earlier. With the smart money’s positions undergoing their usual ebb and flow, there exists a select group of notable hedge fund managers who were increasing their holdings meaningfully.
According to our comprehensive database, Steelhead Partners, managed by Michael Johnston, holds the largest position in Endeavour International Corporation (NYSE:END). Steelhead Partners has a $28.1 million position in the stock, comprising 2.1% of its 13F portfolio. The second largest stake is held by GMT Capital, managed by Thomas E. Claugus, which held a $26.3 million position; 0.6% of its 13F portfolio is allocated to the company. Remaining hedgies with similar optimism include Jeffrey Bersh and Michael Wartell’s Venor Capital Management, Jon Bauer’s Contrarian Capital and Gregory Fraser, Rudolph Kluiber, and Timothy Kroch’s GRT Capital Partners.
Because Endeavour International Corporation (NYSE:END) has faced bearish sentiment from the entirety of the hedge funds we track, logic holds that there exists a select few funds who sold off their positions entirely last quarter. At the top of the heap, Jeffrey Bersh and Michael Wartell’s Venor Capital Management dropped the biggest investment of the “upper crust” of funds we monitor, totaling an estimated $12.4 million in stock.. Dmitry Balyasny’s fund, Balyasny Asset Management, also sold off its stock, about $7.7 million worth. These bearish behaviors are intriguing to say the least, as total hedge fund interest dropped by 2 funds last quarter.
How have insiders been trading Endeavour International Corporation (NYSE:END)?
Insider buying is particularly usable when the company in focus has seen transactions within the past half-year. Over the latest 180-day time frame, Endeavour International Corporation (NYSE:END) has experienced 3 unique insiders purchasing, and 1 insider sales (see the details of insider trades here).
Let’s also examine hedge fund and insider activity in other stocks similar to Endeavour International Corporation (NYSE:END). These stocks are Miller Energy Resources Inc (NYSE:MILL), Crimson Exploration Inc. (NASDAQ:CXPO), Callon Petroleum Company (NYSE:CPE), Equal Energy Ltd. (USA) (NYSE:EQU), and Harvest Natural Resources, Inc. (NYSE:HNR). This group of stocks are the members of the independent oil & gas industry and their market caps are similar to END’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Miller Energy Resources Inc (NYSE:MILL) | 4 | 1 | 0 |
| Crimson Exploration Inc. (NASDAQ:CXPO) | 4 | 0 | 0 |
| Callon Petroleum Company (NYSE:CPE) | 6 | 2 | 1 |
| Equal Energy Ltd. (USA) (NYSE:EQU) | 1 | 6 | 0 |
| Harvest Natural Resources, Inc. (NYSE:HNR) | 16 | 0 | 0 |
With the returns exhibited by the aforementioned strategies, everyday investors should always pay attention to hedge fund and insider trading sentiment, and Endeavour International Corporation (NYSE:END) is an important part of this process.
