Do Hedge Funds Love PTC Inc (PTC)?

Now, key hedge funds were leading the bulls’ herd. 40 North Management, managed by David S. Winter and David J. Millstone, assembled the biggest position in PTC Inc (NASDAQ:PTC). 40 North Management had $11.8 million invested in the company at the end of the quarter. Matthew Knauer and Mina Faltas’s Nokota Management also initiated a $10.2 million position during the quarter. The following funds were also among the new PTC investors: Jim Simons’s Renaissance Technologies, Glenn Russell Dubin’s Highbridge Capital Management, and George Hall’s Clinton Group.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as PTC Inc (NASDAQ:PTC) but similarly valued. We will take a look at First Niagara Financial Group Inc. (NASDAQ:FNFG), NetScout Systems, Inc. (NASDAQ:NTCT), CNO Financial Group Inc (NYSE:CNO), and Qunar Cayman Islands Ltd (NASDAQ:QUNR). This group of stocks’ market caps resemble PTC’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 $447 million. That figure was $692 million in PTC’s case. First Niagara Financial Group Inc. (NASDAQ:FNFG) is the most popular stock in this table. On the other hand CNO Financial Group Inc (NYSE:CNO) is the least popular one with only an 8 bullish hedge fund positions. Compared to these stocks PTC Inc (NASDAQ:PTC) 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.