One way to be familiar with the latest trends from the hedge fund universe is through following their latest moves. As we know, following the activity of some of the best skilled hedge funds can actually help retail investors to beat the market. With this in mind, we have selected five stocks that “hedgies” have been buying recently.
The first one is Kenneth Mario Garschina’s Mason Capital Management, which has boosted its stake in Hubbell Incorporated (NYSE:HUB.A), revealing that it currently holds 630,500 class A shares, up from its previous holding of 493,900 shares. The position accounts for 8.8% of the company’s class A common stock. The shareholder also mentioned that it also intends to regularly review the investment in the company. In addition, Mason Capital holds some 1.14 million class B shares of Hubell.
Steven Cohen’s SAC Capital, recently has initiated a position in Textura Corp (NYSE:TXTR). The fund now owns about 1.25 million shares, which represent 5% of the company’s common stock. The stock of Textura gained almost 52% since its IPO in June, although it stumbled significantly after a report, which claimed that the IPO of the company involved some fraudulent moves. Analysts on average have rated the stock as a “Buy” with a target price of $47, which is clearly above the current market price of around $31.
The next on the list is Oaktree Capital Management, run by Howard Marks, which has made a move into EXCO Resources Inc (NYSE:XCO) and revealed that that it holds 45.25 million shares, which represents 16.6% of the company’s common stock. Earlier, the fund bought some 8.4 million shares at a price of $5.0 per share. The stake was increased after the company launched a “rights offering”, wherein it has exchanged one transferable subscription right for every share of its common stock. The company has a market cap of $1.29 billion, and the average target price of the stock, by analysts is at $5.4.
Keith Meister and his fund Corvex Capital have been bullish on Williams Companies, Inc. (NYSE:WMB) and raised the stake to 46.10 million shares up from 36.09 million shares held earlier. A month back, Corvex Capital signed an agreement with Eric W. Mandelblatt’s Soroban Capital Partners, wherein they agreed to mutually take the decision related to the company’s corporate matters. Both Soroban Capital Partners and Corvex Capital are the largest shareholders of the company.
Barry Rosenstein is fond of QEP Resources Inc (NYSE:QEP), an independent natural gas and crude oil exploration and production company. The fund disclosed that it boosted its stake to 16.99 million shares, from 13.54 million shares held earlier. Jana Partners also plan to discuss with QEP Resources, on maximizing the shareholder value, and on matters related to separating the company’s QEP Resources’ midstream business, QEPFS from QEP. Jana Partners is one of the largest shareholders of the company.
Disclosure: none
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