GameStop Corp. (GME)Hedge Funds Are Snapping Up

As aggregate interest increased, specific money managers were leading the bulls’ herd. Iridian Asset Management, assembled the most outsized position in GameStop Corp. (NYSE:GME). David Keidan’s Buckingham Capital Management also made a $18.7 million investment in the stock during the quarter. The other funds with brand new GME positions are Ken Griffin’s Citadel Investment Group, Marc Majzner’s Clearline Capital, and John Hurley’s Cavalry Asset Management.

Let’s now take a look at hedge fund activity in other stocks similar to GameStop Corp. (NYSE:GME). We will take a look at Western Refining, Inc. (NYSE:WNR), Wintrust Financial Corp (NASDAQ:WTFC), Healthcare Services Group, Inc. (NASDAQ:HCSG), and Landstar System, Inc. (NASDAQ:LSTR). This group of stocks’ market valuations match GME’s market valuation.

As you can see these stocks had an average of 17 hedge funds with bullish positions and the average amount invested in these stocks was $184 million. That figure was $364 million in GME’s case. Western Refining, Inc. (NYSE:WNR) is the most popular stock in this table. On the other hand Healthcare Services Group, Inc. (NASDAQ:HCSG) is the least popular one with only 8 bullish hedge fund positions. Compared to these stocks GameStop Corp. (NYSE:GME) 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.

Disclosure: None