Ally Financial Inc (ALLY): Hedge Funds Are Snapping Up

Now, key money managers were breaking ground themselves. Brenner West Capital Partners, managed by Joshua Kaufman and Craig Nerenberg, initiated the most outsized position in Ally Financial Inc (NYSE:ALLY). Brenner West Capital Partners had $52 million invested in the company at the end of the quarter. Phill Gross and Robert Atchinson’s Adage Capital Management also made a $14.6 million investment in the stock during the quarter. The other funds with brand new ALLY positions are Ken Griffin’s Citadel Investment Group, Benjamin A. Smith’s Laurion Capital Management, and Robert I. Usdan and Wayne K. Goldstein’s Endicott Management.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Ally Financial Inc (NYSE:ALLY) but similarly valued. We will take a look at Bunge Ltd (NYSE:BG), Mobile TeleSystems OJSC (ADR) (NYSE:MBT), The AES Corporation (NYSE:AES), and Synopsys, Inc. (NASDAQ:SNPS). This group of stocks’ market caps match ALLY’s market cap.

As you can see these stocks had an average of 21 hedge funds with bullish positions and the average amount invested in these stocks was $373 million. That figure was $2.27 billion in ALLY’s case. Bunge Ltd (NYSE:BG) is the most popular stock in this table. On the other hand Mobile TeleSystems OJSC (ADR) (NYSE:MBT) is the least popular one with only 17 bullish hedge fund positions. Compared to these stocks Ally Financial Inc (NYSE:ALLY) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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