Are Hedge Funds On To Something With Tata Motors Limited (ADR) (TTM) Buying Spree?

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Now, some big names were leading the bulls’ herd. Emerging Sovereign Group assembled the most valuable position in Tata Motors Limited (ADR) (NYSE:TTM). Emerging Sovereign Group had $83.1 million invested in the company at the end of the quarter. LMR Partners also made a $31.2 million investment in the stock during the quarter. The following funds were also among the new TTM investors: Israel Englander’s Millennium Management, Louis Bacon’s Moore Global Investments, and Ken Griffin’s Citadel Investment Group.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Tata Motors Limited (ADR) (NYSE:TTM) but similarly valued. We will take a look at Amphenol Corporation (NYSE:APH), Republic Services, Inc. (NYSE:RSG), Under Armour Inc (NYSE:UA), and Hartford Financial Services Group Inc (NYSE:HIG). This group of stocks’ market caps are similar to TTM’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
APH 21 322812 2
RSG 21 485314 -4
UA 28 528456 -3
HIG 37 1041662 3

As you can see these stocks had an average of 27 hedge funds with bullish positions and the average amount invested in these stocks was $595 million. That figure was $844 million in TTM’s case. Hartford Financial Services Group Inc (NYSE:HIG) is the most popular stock in this table. On the other hand Amphenol Corporation (NYSE:APH) is the least popular one with only 21 bullish hedge fund positions. Tata Motors Limited (ADR) (NYSE:TTM) 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 HIG might be a better candidate to consider a long position in, though TTM is one to watch for next quarter.

Disclosure: None

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