In today’s marketplace, there are dozens of metrics shareholders can use to analyze stocks. A duo of the most useful are hedge fund and insider trading interest. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the elite money managers can outpace the broader indices by a healthy amount (see just how much).
Just as key, positive insider trading activity is a second way to analyze the investments you’re interested in. There are a number of motivations for an insider to sell shares of his or her company, but only one, very clear reason why they would buy. Various academic studies have demonstrated the market-beating potential of this strategy if shareholders understand where to look (learn more here).
What’s more, let’s discuss the newest info about Eaton Vance Corp (NYSE:EV).
What have hedge funds been doing with Eaton Vance Corp (NYSE:EV)?
Heading into Q3, a total of 16 of the hedge funds we track were bullish in this stock, a change of 60% from one quarter earlier. With the smart money’s sentiment swirling, there exists a select group of key hedge fund managers who were boosting their holdings meaningfully.
Out of the hedge funds we follow, Millennium Management, managed by Israel Englander, holds the most valuable position in Eaton Vance Corp (NYSE:EV). Millennium Management has a $10.4 million position in the stock, comprising less than 0.1%% of its 13F portfolio. Sitting at the No. 2 spot is Phill Gross and Robert Atchinson of Adage Capital Management, with a $6.6 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Some other hedge funds with similar optimism include Matthew Tewksbury’s Stevens Capital Management, Chuck Royce’s Royce & Associates and Ken Griffin’s Citadel Investment Group.
With a general bullishness amongst the titans, certain bigger names have jumped into Eaton Vance Corp (NYSE:EV) headfirst. Millennium Management, managed by Israel Englander, created the biggest position in Eaton Vance Corp (NYSE:EV). Millennium Management had 10.4 million invested in the company at the end of the quarter. Phill Gross and Robert Atchinson’s Adage Capital Management also made a $6.6 million investment in the stock during the quarter. The other funds with brand new EV positions are Matthew Tewksbury’s Stevens Capital Management, Chuck Royce’s Royce & Associates, and Ken Griffin’s Citadel Investment Group.
What have insiders been doing with Eaton Vance Corp (NYSE:EV)?
Insider buying is most useful when the primary stock in question has seen transactions within the past 180 days. Over the last six-month time period, Eaton Vance Corp (NYSE:EV) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).
We’ll go over the relationship between both of these indicators in other stocks similar to Eaton Vance Corp (NYSE:EV). These stocks are Och-Ziff Capital Management Group LLC (NYSE:OZM), Legg Mason, Inc. (NYSE:LM), Lazard Ltd (NYSE:LAZ), American Capital Ltd. (NASDAQ:ACAS), and SEI Investments Company (NASDAQ:SEIC). This group of stocks are in the asset management industry and their market caps match EV’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Och-Ziff Capital Management Group LLC (NYSE:OZM) | 12 | 0 | 0 |
| Legg Mason, Inc. (NYSE:LM) | 25 | 0 | 0 |
| Lazard Ltd (NYSE:LAZ) | 12 | 0 | 0 |
| American Capital Ltd. (NASDAQ:ACAS) | 25 | 0 | 0 |
| SEI Investments Company (NASDAQ:SEIC) | 24 | 0 | 0 |
Using the results demonstrated by Insider Monkey’s research, regular investors must always watch hedge fund and insider trading sentiment, and Eaton Vance Corp (NYSE:EV) shareholders fit into this picture quite nicely.
