Century Aluminum Co (CENX): Are Hedge Funds Right About This Stock?

Consequently, key hedge funds have been driving this bullishness. Hound Partners established the most valuable position in Century Aluminum Co (NASDAQ:CENX). According to its latest 13F filing, the fund had $5 million invested in the company at the end of the quarter. Impala Asset Management also initiated a $3.9 million position during the quarter. The other funds with brand new CENX positions are Ken Griffin’s Citadel Investment Group, Paul Tudor Jones’ Tudor Investment Corp, and Cliff Asness’ AQR Capital Management.

Let’s now review hedge fund activity in other stocks similar to Century Aluminum Co (NASDAQ:CENX). We will take a look at Viate Pharmaceuticals Inc (NASDAQ:VTAE), SunOpta, Inc. (USA) (NASDAQ:STKL), Blackrock Kelso Capital Corp. (NASDAQ:BKCC), and CVR Partners LP (NYSE:UAN). This group of stocks’ market valuations resemble CENX’s market valuation.

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $96 million. That figure was $36 million in CENX’s case. Viate Pharmaceuticals Inc (NASDAQ:VTAE) is the most popular stock in this table. On the other hand CVR Partners LP (NYSE:UAN) is the least popular one with only 4 bullish hedge fund positions. Century Aluminum Co (NASDAQ:CENX) 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 VTAE might be a better candidate to consider taking a long position in.

Disclosure: None