Do Hedge Funds Love Ashford Hospitality Prime Inc (AHP)?

With a general bullishness amongst the heavyweights, some big names were leading the bulls’ herd. Gratia Capital, created the most outsized position in Ashford Hospitality Prime Inc (NYSE:AHP). Dmitry Balyasny’s Balyasny Asset Management also initiated a $5.6 million position during the quarter. The following funds were also among the new AHP investors: Michael Thompson’s BHR Capital, Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital, and Matthew Hulsizer’s PEAK6 Capital Management.

Let’s check out hedge fund activity in other stocks similar to Ashford Hospitality Prime Inc (NYSE:AHP). We will take a look at Memorial Production Partners LP (NASDAQ:MEMP), Pericom Semiconductor (NASDAQ:PSEM), Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX), and Healthways, Inc. (NASDAQ:HWAY). This group of stocks’ market caps are similar to AHP’s market cap.

As you can see these stocks had an average of 14  hedge funds with bullish positions and the average amount invested in these stocks was $88 million. That figure was $73 million in AHP’s case. Healthways, Inc. (NASDAQ:HWAY) is the most popular stock in this table. On the other hand Memorial Production Partners LP (NASDAQ:MEMP) is the least popular one with only 4 bullish hedge fund positions. Ashford Hospitality Prime Inc (NYSE:AHP) 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 HWAY might be a better candidate to consider a long position.