Airgas, Inc. (ARG) Hedge Funds Are Snapping Up

Now, some big names were breaking ground themselves. Point72 Asset Management initiated the biggest position in Airgas, Inc. (NYSE:ARG). Point72 Asset Management had $30.2 million invested in the company at the end of the quarter. Andrew Immerman and Jeremy Schiffman’s Palestra Capital Management also initiated a $20.5 million position during the quarter. The following funds were also among the new Airgas, Inc. (NYSE:ARG) investors: Greg Poole’s Echo Street Capital Management, Matthew Tewksbury’s Stevens Capital Management, and Michael Platt and William Reeves’s BlueCrest Capital Mgmt..

Let’s also examine hedge fund activity in other stocks similar to Airgas, Inc. (NYSE:ARG). These stocks are PulteGroup, Inc. (NYSE:PHM), Partnerre Ltd (NYSE:PRE), NetSuite Inc (NYSE:N), and Lululemon Athletica inc. (NASDAQ:LULU). All of these stocks’ market caps resemble Airgas, Inc. (NYSE:ARG)’s market cap.

As you can see, these stocks had an average of 24 hedge funds with bullish positions and the average amount invested in these stocks was $591 million. That figure was $606 million in Airgas, Inc. (NYSE:ARG)’s case. Lululemon Athletica inc. (NASDAQ:LULU) is the most popular stock in this table. On the other hand, NetSuite Inc (NYSE:N) is the least popular one with only 14 bullish hedge fund positions. Airgas, Inc. (NYSE:ARG) is not the most popular stock in this group, but hedge fund interest is still above average. This is a slightly positive signal, but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard, Lululemon Athletica inc. (NASDAQ:LULU) might be a better candidate to consider a long position.