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Is Eclipse Resources Corp (ECR) A Good Stock To Buy?

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The 700+ hedge funds and money managers tracked by Insider Monkey have already compiled and submitted their 13F filings for the third quarter, which unveil their equity positions as of September 30. We went through these filings, fixed typos and other more significant errors and identified the changes in hedge fund positions. Our extensive review of these public filings is finally over, so this article is set to reveal the smart money sentiment towards Eclipse Resources Corp (NYSE:ECR) .

Eclipse Resources Corp (NYSE:ECR) has experienced a decrease in hedge fund interest recently. ECR was in 18 hedge funds’ portfolios at the end of the third quarter of 2016. There were 24 hedge funds in our database with ECR holdings 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 NutriSystem Inc. (NASDAQ:NTRI), Babcock & Wilcox Enterprises Inc (NYSE:BW), and TCP Capital Corp (NASDAQ:TCPC) to gather more data points.

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At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 18% gains over the past 12 months, more than doubling the 8% returns enjoyed by the S&P 500 ETFs.

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How have hedgies been trading Eclipse Resources Corp (NYSE:ECR)?

At the end of the third quarter, a total of 18 of the hedge funds tracked by Insider Monkey were long this stock, a fall of 25% from the previous quarter. The graph below displays the number of hedge funds with bullish position in ECR over the last 5 quarters. With the smart money’s sentiment swirling, there exists a few notable hedge fund managers who were upping their holdings substantially (or already accumulated large positions).

ecr

According to Insider Monkey’s hedge fund database, Viking Global, led by Andreas Halvorsen, holds the number one position in Eclipse Resources Corp (NYSE:ECR). Viking Global has a $24 million position in the stock. Sitting at the No. 2 spot is Alyeska Investment Group, led by Anand Parekh, which holds a $11.2 million position. Remaining hedge funds and institutional investors that hold long positions encompass Alec Litowitz and Ross Laser’s Magnetar Capital, Ken Griffin’s Citadel Investment Group and Phil Frohlich’s Prescott Group Capital Management. We should note that none of these hedge funds are among our list of the 100 best performing hedge funds which is based on the performance of their 13F long positions in non-microcap stocks.

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