Alliant Energy Corporation (LNT)Hedge Funds Are Snapping Up

As aggregate interest increased, key hedge funds were breaking ground themselves. Luminus Management, managed by Jonathan Barrett and Paul Segal, initiated the biggest position in Alliant Energy Corporation (NYSE:LNT). The fund had $7.4 million invested in the company at the end of the quarter. Ken Gray and Steve Walsh’s Bryn Mawr Capital also initiated a $3.8 million position during the quarter. The following funds were also among the new LNT investors: David Costen Haley’s HBK Investments, Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital, and Ben Levine, Andrew Manuel and Stefan Renold’s LMR Partners.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Alliant Energy Corporation (NYSE:LNT) but similarly valued. These stocks are AutoNation, Inc. (NYSE:AN), Duke Realty Corp (NYSE:DRE), Weatherford International Ltd (NYSE:WFT), and Broadridge Financial Solutions, Inc. (NYSE:BR). This group of stocks’ market caps are similar to LNT’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 $571 million. That figure was $84 million in LNT’s case. AutoNation, Inc. (NYSE:AN) is the most popular stock in this table. On the other hand Duke Realty Corp (NYSE:DRE) is the least popular one with only 12 bullish hedge fund positions. Alliant Energy Corporation (NYSE:LNT) is not the least popular stock in this group, but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard AN might be a better candidate to consider a long position.