What’s a smart Endeavour International Corporation (NYSE:END) investor to do?
In the eyes of many investors, hedge funds are assumed to be overrated, old investment tools of an era lost to time. Although there are over 8,000 hedge funds trading in present day, this site aim at the leaders of this group, about 525 funds. It is assumed that this group controls most of the hedge fund industry’s total assets, and by tracking their best investments, we’ve unsheathed a number of investment strategies that have historically beaten the broader indices. Our small-cap hedge fund strategy outstripped the S&P 500 index by 18 percentage points per annum for a decade in our back tests, and since we’ve started sharing our picks with our subscribers at the end of August 2012, we have outpaced the S&P 500 index by 33 percentage points in 11 months (see all of our picks from August).
Equally as necessary, bullish insider trading sentiment is another way to analyze the stock market universe. As the old adage goes: there are a number of reasons for an insider to sell shares of his or her company, but only one, very obvious reason why they would initiate a purchase. Various empirical studies have demonstrated the useful potential of this strategy if shareholders understand where to look (learn more here).
Furthermore, let’s discuss the latest info about Endeavour International Corporation (NYSE:END).
How have hedgies been trading Endeavour International Corporation (NYSE:END)?
Heading into Q3, a total of 5 of the hedge funds we track held long positions in this stock, a change of -38% from the first quarter. With the smart money’s sentiment swirling, there exists an “upper tier” of noteworthy hedge fund managers who were upping their stakes considerably.
According to our 13F database, Steelhead Partners, managed by Michael Johnston, holds the biggest position in Endeavour International Corporation (NYSE:END). Steelhead Partners has a $24.4 million position in the stock, comprising 2.2% of its 13F portfolio. Coming in second is Thomas E. Claugus of GMT Capital, with a $6.3 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Other peers that hold long positions include D. E. Shaw’s D E Shaw, Cliff Asness’s AQR Capital Management and Ken Griffin’s Citadel Investment Group.
Judging by the fact that Endeavour International Corporation (NYSE:END) has witnessed a fall in interest from the smart money’s best and brightest, logic holds that there were a few money managers that elected to cut their positions entirely heading into Q2. Intriguingly, Jim Simons’s Renaissance Technologies dumped the biggest investment of the 450+ funds we track, totaling an estimated $0.7 million in stock. Paul Tudor Jones’s fund, Tudor Investment Corp, also said goodbye to its stock, about $0 million worth. These transactions are interesting, as aggregate hedge fund interest was cut by 3 funds heading into Q2.
What do corporate executives and insiders think about Endeavour International Corporation (NYSE:END)?
Insider buying is most useful when the company in focus has seen transactions within the past six months. Over the last half-year time period, Endeavour International Corporation (NYSE:END) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).
We’ll also examine the relationship between both of these indicators in other stocks similar to Endeavour International Corporation (NYSE:END). These stocks are Miller Energy Resources Inc (NYSE:MILL), Crimson Exploration Inc. (NASDAQ:CXPO), Callon Petroleum Company (NYSE:CPE), Equal Energy Ltd. (USA) (NYSE:EQU), and Harvest Natural Resources, Inc. (NYSE:HNR). This group of stocks are the members of the independent oil & gas industry and their market caps are closest to END’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Miller Energy Resources Inc (NYSE:MILL) | 4 | 0 | 0 |
| Crimson Exploration Inc. (NASDAQ:CXPO) | 6 | 0 | 0 |
| Callon Petroleum Company (NYSE:CPE) | 8 | 0 | 0 |
| Equal Energy Ltd. (USA) (NYSE:EQU) | 3 | 0 | 0 |
| Harvest Natural Resources, Inc. (NYSE:HNR) | 14 | 0 | 0 |
Using the results explained by our strategies, regular investors should always watch hedge fund and insider trading activity, and Endeavour International Corporation (NYSE:END) is an important part of this process.
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Hedge Funds Are Dumping Endeavour International Corporation (END)
