Should Enerplus Corp (USA) (NYSE:ERF) investors track the following data?
In today’s marketplace, there are many indicators investors can use to track the equity markets. Some of the most underrated are hedge fund and insider trading activity. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the elite money managers can outclass the market by a very impressive amount (see just how much).
Equally as necessary, bullish insider trading activity is another way to analyze the stock market universe. Obviously, there are many motivations for an insider to drop shares of his or her company, but only one, very obvious reason why they would buy. Plenty of empirical studies have demonstrated the useful potential of this method if investors understand where to look (learn more here).
Thus, we’re going to analyze the newest info about Enerplus Corp (USA) (NYSE:ERF).
How are hedge funds trading Enerplus Corp (USA) (NYSE:ERF)?
At the end of the second quarter, a total of 8 of the hedge funds we track were bullish in this stock, a change of 14% from the previous quarter. With hedge funds’ sentiment swirling, there exists a select group of noteworthy hedge fund managers who were boosting their stakes substantially.
When using filings from the hedgies we track, PEAK6 Capital Management, managed by Matthew Hulsizer, holds the largest position in Enerplus Corp (USA) (NYSE:ERF). PEAK6 Capital Management has a $12.1 million call position in the stock, comprising less than 0.1%% of its 13F portfolio. Sitting at the No. 2 spot is Citadel Investment Group, managed by Ken Griffin, which held a $5.9 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Remaining hedge funds with similar optimism include Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, Jim Simons’s Renaissance Technologies and D. E. Shaw’s D E Shaw.
Now, specific money managers were leading the bulls’ herd. PEAK6 Capital Management, managed by Matthew Hulsizer, established the most outsized call position in Enerplus Corp (USA) (NYSE:ERF). PEAK6 Capital Management had 12.1 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also made a $5.9 million investment in the stock during the quarter. The other funds with new positions in the stock are Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, Jim Simons’s Renaissance Technologies, and D. E. Shaw’s D E Shaw.
What have insiders been doing with Enerplus Corp (USA) (NYSE:ERF)?
Insider buying made by high-level executives is at its handiest when the company in question has experienced transactions within the past six months. Over the latest 180-day time frame, Enerplus Corp (USA) (NYSE:ERF) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).
We’ll also take a look at the relationship between both of these indicators in other stocks similar to Enerplus Corp (USA) (NYSE:ERF). These stocks are Patterson-UTI Energy, Inc. (NASDAQ:PTEN), Atwood Oceanics, Inc. (NYSE:ATW), SandRidge Energy Inc. (NYSE:SD), Pengrowth Energy Corp (USA) (NYSE:PGH), and Halcon Resources Corp (NYSE:HK). This group of stocks belong to the oil & gas drilling & exploration industry and their market caps are closest to ERF’s market cap.
