Should Great Plains Energy Incorporated (NYSE:GXP) investors track the following data?
To the average investor, there are a multitude of gauges shareholders can use to track stocks. A couple of the best are hedge fund and insider trading activity. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the best fund managers can outclass the S&P 500 by a healthy amount (see just how much).
Equally as necessary, positive insider trading activity is another way to analyze the financial markets. Obviously, there are plenty of incentives for a bullish insider to cut shares of his or her company, but just one, very clear reason why they would buy. Several academic studies have demonstrated the market-beating potential of this strategy if you understand where to look (learn more here).
Keeping this in mind, we’re going to examine the latest info about Great Plains Energy Incorporated (NYSE:GXP).
What have hedge funds been doing with Great Plains Energy Incorporated (NYSE:GXP)?
Heading into Q3, a total of 18 of the hedge funds we track were long in this stock, a change of 20% from the previous quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists a select group of noteworthy hedge fund managers who were boosting their stakes meaningfully.
According to our 13F database, GAMCO Investors, managed by Mario Gabelli, holds the most valuable position in Great Plains Energy Incorporated (NYSE:GXP). GAMCO Investors has a $20.9 million position in the stock, comprising 0.1% of its 13F portfolio. The second largest stake is held by Citadel Investment Group, managed by Ken Griffin, which held a $14 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Some other peers that are bullish include Israel Englander’s Millennium Management, Jim Simons’s Renaissance Technologies and John A. Levin’s Levin Capital Strategies.
Now, certain bigger names were leading the bulls’ herd. GAMCO Investors, managed by Mario Gabelli, assembled the largest position in Great Plains Energy Incorporated (NYSE:GXP). GAMCO Investors had 20.9 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also initiated a $14 million position during the quarter. The other funds with brand new GXP positions are Israel Englander’s Millennium Management, Jim Simons’s Renaissance Technologies, and John A. Levin’s Levin Capital Strategies.
What do corporate executives and insiders think about Great Plains Energy Incorporated (NYSE:GXP)?
Bullish insider trading is most useful when the company in focus has seen transactions within the past six months. Over the latest six-month time period, Great Plains Energy Incorporated (NYSE:GXP) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).
We’ll check out the relationship between both of these indicators in other stocks similar to Great Plains Energy Incorporated (NYSE:GXP). These stocks are Centrais Eletricas Brasileiras SA (ADR) (NYSE:EBR), Cleco Corporation (NYSE:CNL), Dynegy Inc. (NYSE:DYN), Companhia Paranaense de Energia (ADR) (NYSE:ELP), and TECO Energy, Inc. (NYSE:TE). All of these stocks are in the electric utilities industry and their market caps are closest to GXP’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Centrais Eletricas Brasileiras SA (ADR) (NYSE:EBR) | 5 | 0 | 0 |
| Cleco Corporation (NYSE:CNL) | 12 | 0 | 0 |
| Dynegy Inc. (NYSE:DYN) | 15 | 0 | 0 |
| Companhia Paranaense de Energia (ADR) (NYSE:ELP) | 5 | 0 | 0 |
| TECO Energy, Inc. (NYSE:TE) | 10 | 0 | 0 |
Using the returns demonstrated by Insider Monkey’s studies, average investors must always track hedge fund and insider trading sentiment, and Great Plains Energy Incorporated (NYSE:GXP) is no exception.
