Has The Time Come to Buy New Senior Investment Group Inc (SNR)?

Consequently, key money managers were leading the bulls’ herd. Peter Rathjens, Bruce Clarke and John Campbell of Arrowstreet Capital assembled the biggest position in New Senior Investment Group Inc (NYSE:SNR). Arrowstreet Capital had $2.3 million invested in the company at the end of the quarter. Andrew Weiss’ Weiss Asset Management also made a $0.2 million investment in the stock during the quarter. The other funds with new positions in the stock are Matthew Tewksbury’s Stevens Capital Management, Ken Griffin’s Citadel Investment Group, and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.

Let’s also examine hedge fund activity in other stocks similar to New Senior Investment Group Inc (NYSE:SNR). These stocks are Patrick Industries, Inc. (NASDAQ:PATK), Fortress Transprtn and Infr Investrs LLC (NYSE:FTAI), P.H. Glatfelter Company (NYSE:GLT), and Smart & Final Stores Inc (NYSE:SFS). All of these stocks’ market caps resemble SNR’s market cap.

As you can see these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $50 million. That figure was $114 million in SNR’s case. Patrick Industries, Inc. (NASDAQ:PATK) is the most popular stock in this table. On the other hand Fortress Transprtn and Infr Investrs LLC (NYSE:FTAI) is the least popular one with only 5 bullish hedge fund positions. New Senior Investment Group Inc (NYSE:SNR) 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 PATK might be a better candidate to consider taking a long position in.

Disclosure: None