Hedge Funds Bought Tripadvisor and More Stocks Recently

Al Gore and former Goldman Sachs Asset Management head David Blood’s Generation Investment Management, which prefers to invest in environmentally and “socially responsible” companies, owned 4.2 million shares of recent solar IPO SolarCity Corp (NASDAQ:SCTY), or nearly 6% of the outstanding shares. The company sells or leases, and then installs, solar energy systems including for residential customers. Multiple insiders, including billionaire and company Board member Elon Musk, have been buying the stock after SolarCity was forced to reduce its IPO price (research insider buying at SolarCity). The company is unprofitable, though revenue is growing and margins are improving. We would avoid the stock.

Ardsley Partners reported owning just over 5% of frac sand producer Hi-Crush Partners LP (NASDAQ:HCLP). See more stock picks from Ardsley Partners. Baker Hughes, part of the company’s limited customer base, recently back out of an agreement with Hi-Crush and this has helped send the stock down 25% from shortly after its August IPO. However, Hi-Crush offers a number of positive points. It trades at 7 times forward earnings estimates and recently paid a dividend equal to 1.6% of the current stock price- and this was only for half of one quarter of the year. While that payment is likely not representative, we think it’s worth looking more closely at the company.