Westar Energy Inc (NYSE:WR) investors should pay attention to a decrease in enthusiasm from smart money in recent months.
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Now, it’s important to take a peek at the latest action encompassing Westar Energy Inc (NYSE:WR).
How have hedgies been trading Westar Energy Inc (NYSE:WR)?
Heading into 2013, a total of 7 of the hedge funds we track were bullish in this stock, a change of -22% from the previous quarter. With hedge funds’ sentiment swirling, there exists an “upper tier” of key hedge fund managers who were increasing their holdings meaningfully.
When looking at the hedgies we track, Mario Gabelli’s GAMCO Investors had the most valuable position in Westar Energy Inc (NYSE:WR), worth close to $40.3 million, comprising 0.3% of its total 13F portfolio. The second largest stake is held by Jim Simons of Renaissance Technologies, with a $39.2 million position; 0.1% of its 13F portfolio is allocated to the company. Remaining hedgies with similar optimism include Israel Englander’s Millennium Management, Ken Gray and Steve Walsh’s Bryn Mawr Capital and David Costen Haley’s HBK Investments.
Seeing as Westar Energy Inc (NYSE:WR) has experienced declining sentiment from hedge fund managers, it’s easy to see that there lies a certain “tier” of hedgies who sold off their full holdings in Q4. It’s worth mentioning that John Fichthorn’s Dialectic Capital Management sold off the biggest investment of the 450+ funds we watch, worth an estimated $6.6 million in stock.. Tim Flannery’s fund, Copia Capital, also sold off its stock, about $2.9 million worth. These bearish behaviors are important to note, as total hedge fund interest was cut by 2 funds in Q4.
How have insiders been trading Westar Energy Inc (NYSE:WR)?
Insider trading activity, especially when it’s bullish, is most useful when the company we’re looking at has seen transactions within the past 180 days. Over the latest six-month time frame, Westar Energy Inc (NYSE:WR) has experienced zero unique insiders purchasing, and 5 insider sales (see the details of insider trades here).
Let’s also review hedge fund and insider activity in other stocks similar to Westar Energy Inc (NYSE:WR). These stocks are Ameren Corp (NYSE:AEE), Vectren Corporation (NYSE:VVC), NV Energy, Inc. (NYSE:NVE), TransAlta Corporation (USA) (NYSE:TAC), and UGI Corp (NYSE:UGI). This group of stocks belong to the diversified utilities industry and their market caps match WR’s market cap.