Is Gulfport Energy Corporation (GPOR) A Good Stock To Buy?

With the third-quarter round of 13F filings behind us it is time to take a look at the stocks in which some of the best money managers in the world preferred to invest or sell heading into the fourth quarter. One of these stocks was Gulfport Energy Corporation (NASDAQ:GPOR).

Gulfport Energy Corporation (NASDAQ:GPOR) has seen a decrease in support from the world’s most elite money managers recently. 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 Cabelas Inc (NYSE:CAB), Research In BlackBerry Ltd(NASDAQ:BBRY), and LaSalle Hotel Properties (NYSE:LHO) to gather more data points.

Today there are a lot of tools stock market investors employ to value their holdings. A pair of the most innovative tools are hedge fund and insider trading interest. Our researchers have shown that, historically, those who follow the top picks of the elite money managers can trounce the market by a healthy margin (see the details here).

Now, we’re going to take a gander at the recent action surrounding Gulfport Energy Corporation (NASDAQ:GPOR).

What have hedge funds been doing with Gulfport Energy Corporation (NASDAQ:GPOR)?

At the end of the third quarter, a total of 36 of the hedge funds tracked by Insider Monkey were long this stock, a change of -16% from one quarter earlier. With the smart money’s sentiment swirling, there exists a select group of noteworthy hedge fund managers who were upping their stakes considerably (or already accumulated large positions).

Of the funds tracked by Insider Monkey, Ken Griffin’s Citadel Investment Group has the biggest position in Gulfport Energy Corporation (NASDAQ:GPOR), worth close to $198.8 million, corresponding to 0.2% of its total 13F portfolio. Coming in second is Israel Englander of Millennium Management, with an $92.1 million position; the fund has 0.2% of its 13F portfolio invested in the stock. Remaining peers that are bullish consist of Leon Cooperman’s Omega Advisors, Clint Carlson’s Carlson Capital and Ryan Heslop and Ariel Warszawski’s Firefly Value Partners.