Why Synacor, Atlas Air, Tutor Perini and EP Energy Are Up By Double-Digits Today

Tutor Perini Spikes on Earnings Beat

Shares of Tutor Perini Corp (NYSE:TPC) are trading up by 27.75% on Thursday afternoon following the announcement of the company’s first quarter financial results. After the market closed on Wednesday, the small-cap construction company reported earnings of $0.31 per share, beating the Street’s consensus by $0.12. Revenue of $1.09 billion fell $50 million short of expectations however. Finally, the company reiterated its full-year guidance, with management anticipating EPS of $1.90-to-$2.20, on revenue of $5.1 billion-to-$5.6 billion for the year.

Tutor Perini Corp (NYSE:TPC) also counted 14 hedge fund supporters among those that we track at the end of 2015. William Harnisch‘s Peconic Partners LLC was the largest shareholder in this group, having declared a holding of 947,927 shares of the company as of December 31.

EP Energy Also Rises on Strong Results

Next up is EP Energy Corp (NYSE:EPE), which is also up greatly, by about 26%, in Thursday trading, driven by its first quarter financial results. The small-cap E&P company delivered EPS of $0.19, helped by lower costs and ameliorated operational performance, while the consensus had called for nearly flat EPS of just $0.01. While revenue of $224 million fell short of expectations, other aspects of its balanced sheet were strong, including free cash flow of $122 million, liquidity gaining a net $250 million, and annual interest expenses being cut by $50 million, mostly on the back of debt repurchases.

By the end of 2015, EP Energy Corp (NYSE:EPE) counted 18 hedge fund backers among those that we track. One of the largest stockholders of record was Cliff Asness’ AQR Capital Management, which held 6.93 million shares of the company worth more than $30 million as of December 31.

Double-Beat For Masimo

Finally, there’s Masimo Corporation (NASDAQ:MASI), the only stock in this list that is not up by double-digits on Thursday. However, the company’s shares are by no means lagging, as they are up by more than 9% in the afternoon hours, driven by the top and bottom-line beats that the company delivered on Wednesday afternoon. EPS of $0.53 and revenue of $171.17 million came in $0.10 and $5.92 million above the consensus estimates, respectively. In addition, management boosted its full-year guidance to $677 million in revenue, up by $7 million in relation to its previous estimate, and to $1.83 in EPS, up from a previous outlook of $1.69.

There were 23 hedge funds in our database with long positions in Masimo Corporation (NASDAQ:MASI), a small-cap medical technology company, at the end of 2015. Their combined stakes accounted for more than 6% of the company’s total shares.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned in this article.