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MGT Capital Investments Inc. (MGT), Resolute Energy Corp (REN) & More: Why These Stocks Are Making Moves Today

The markets have snapped out of their losing streak today, being helped by positive quarterly earnings reported by Citigroup Inc (NYSE:C) and JPMorgan Chase & Co. (NYSE:JPM). Retail sales also showed a 0.6% improvement in September, pulling the markets up.

Apart from that, the markets are also being affected by several individual stocks making moves today. Among them are MGT Capital Investments Inc. (NYSEMKT:MGT), Resolute Energy Corp (NYSE:REN), Terex Corporation (NYSE:TEX), ContraVir Pharmaceuticals Inc. (NASDAQ:CTRV), and Viacom Inc. (NASDAQ:VIA). In this article, we’ll discuss the news pushing these stocks today and see how hedge funds have been trading them of late.

Through extensive research that covered the portfolios of several hundred large investors between 1999 and 2012, we determined that following the small-cap stocks that large money managers are collectively bullish on, can generate monthly returns nearly 1.0 percentage points above the market (see the details here).

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MGT Capital Investments Inc. (NYSEMKT:MGT) stock has gained 21% today after the company announced the commercial release of its new security device, Sentinel, a product which has been designed by whitehat hackers and Executive Chairman John McAfee. MGT Capital Investments will start shipping orders within six-to-eight weeks. Each unit has been priced at $4,995, with an annual renewable contract. MGT Capital recently announced canceling its acquisition of D-Vasive and Demonsaw, though it has reached a tentative agreement to license or acquire the rights to the source code of the latter. Among the funds that we track, four held a total of $4.63 million worth of MGT Capital Investments Inc. (NYSEMKT:MGT) stock at the end of June, amounting to 5.10% of its outstanding stock.

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Resolute Energy Corp (NYSE:REN) is trading up by nearly 8% today on the news that RSP Permian Inc (NYSE:RSPP) is buying Silver Hill Energy Partners in a $2.5 billion deal. The deal will be paid for with $1.25 billion in cash and 31 million RSPP shares. Resolute Energy recently agreed to pay $135 million for Firewheel Energy LLC, which has drilling rights to about 3,300 acres in the Permian Basin, one of the cheapest places to develop onshore fields in the U.S. Resolute Energy’s stock is now more than 640% in the green this year. The number of funds from within our hedge fund database long Resolute Energy Corp (NYSE:REN) stood at six at the end of June, with the total value of their holdings standing at $9.4 million.

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We’ll run through three of the day’s other trending stocks on the next page.