Is Access Midstream Partners LP (NYSE:ACMP) a great investment today? The smart money is getting more optimistic. The number of bullish hedge fund bets increased by 2 lately.
At the moment, there are dozens of gauges market participants can use to track Mr. Market. A duo of the most under-the-radar are hedge fund and insider trading sentiment. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the elite money managers can outclass the broader indices by a healthy amount (see just how much).
Equally as key, optimistic insider trading sentiment is a second way to break down the financial markets. As the old adage goes: there are a variety of incentives for an executive to cut shares of his or her company, but just one, very obvious reason why they would initiate a purchase. Plenty of academic studies have demonstrated the useful potential of this method if you know what to do (learn more here).
With all of this in mind, we’re going to take a gander at the recent action regarding Access Midstream Partners LP (NYSE:ACMP).
What have hedge funds been doing with Access Midstream Partners LP (NYSE:ACMP)?
At Q1’s end, a total of 7 of the hedge funds we track held long positions in this stock, a change of 40% from the previous quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists an “upper tier” of notable hedge fund managers who were boosting their stakes meaningfully.
Of the funds we track, Balyasny Asset Management, managed by Dmitry Balyasny, holds the largest position in Access Midstream Partners LP (NYSE:ACMP). Balyasny Asset Management has a $33.3 million position in the stock, comprising 0.5% of its 13F portfolio. The second largest stake is held by Jim Simons of Renaissance Technologies, with a $14.9 million position; less than 0.1%% of its 13F portfolio is allocated to the stock. Some other hedge funds that hold long positions include Richard Driehaus’s Driehaus Capital, Andrew R. Midler’s Savitr Capital and Ken Griffin’s Citadel Investment Group.
As industrywide interest jumped, some big names were breaking ground themselves. Driehaus Capital, managed by Richard Driehaus, created the biggest position in Access Midstream Partners LP (NYSE:ACMP). Driehaus Capital had 11.1 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also initiated a $1.1 million position during the quarter.
What do corporate executives and insiders think about Access Midstream Partners LP (NYSE:ACMP)?
Insider purchases made by high-level executives is at its handiest when the company in question has seen transactions within the past six months. Over the last half-year time frame, Access Midstream Partners LP (NYSE:ACMP) has experienced 3 unique insiders purchasing, and zero insider sales (see the details of insider trades here).
Let’s also review hedge fund and insider activity in other stocks similar to Access Midstream Partners LP (NYSE:ACMP). These stocks are InterOil Corporation (USA) (NYSE:IOC), Murphy Oil Corporation (NYSE:MUR), HollyFrontier Corp (NYSE:HFC), CVR Energy, Inc. (NYSE:CVI), and Tesoro Corporation (NYSE:TSO). This group of stocks belong to the oil & gas refining & marketing industry and their market caps resemble ACMP’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| InterOil Corporation (USA) (NYSE:IOC) | 18 | 0 | 0 |
| Murphy Oil Corporation (NYSE:MUR) | 23 | 1 | 13 |
| HollyFrontier Corp (NYSE:HFC) | 34 | 1 | 6 |
| CVR Energy, Inc. (NYSE:CVI) | 15 | 0 | 0 |
| Tesoro Corporation (NYSE:TSO) | 42 | 1 | 6 |
With the results shown by the aforementioned time-tested strategies, retail investors should always keep an eye on hedge fund and insider trading activity, and Access Midstream Partners LP (NYSE:ACMP) shareholders fit into this picture quite nicely.
