Hedge Funds Are Beginning to Cast Their Bullish Gaze on Inter Parfums, Inc. (IPAR)

With general bullishness amongst the heavyweights, specific money managers were leading the bulls’ herd. Columbus Circle Investors created the largest position in Inter Parfums, Inc. (NASDAQ:IPAR). Columbus Circle Investors had $7.5 million invested in the company at the end of the quarter. Cliff Asness’ AQR Capital Management also initiated a $0.3 million position during the quarter. The other funds with new positions in the stock are John Overdeck and David Siegel’s Two Sigma Advisors, David E. Shaw’s D E Shaw, and Paul Tudor Jones’ Tudor Investment Corp.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Inter Parfums, Inc. (NASDAQ:IPAR) but similarly valued. These stocks are Green Plains Renewable Energy Inc. (NASDAQ:GPRE), Xencor Inc (NASDAQ:XNCR), Greenbrier Companies Inc (NYSE:GBX), and MakeMyTrip Limited (NASDAQ:MMYT). All of these stocks’ market caps are similar to IPAR’s market cap.

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 $162 million. That figure was $46 million in IPAR’s case. Green Plains Renewable Energy Inc. (NASDAQ:GPRE) is the most popular stock in this table. On the other hand MakeMyTrip Limited (NASDAQ:MMYT) is the least popular one with only 12 bullish hedge fund positions. Compared to these stocks Inter Parfums, Inc. (NASDAQ:IPAR) is even less popular than MMYT. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news, especially as hedge fund sentiment is rapidly improving. Nonetheless, we’d like to see more top investors get behind the stock before we consider making a move on it.

Disclosure: None