Hedge Funds Are Betting On Extended Stay America Inc (STAY)

As aggregate interest increased, specific money managers were leading the bulls’ herd. Samlyn Capital, managed by Robert Pohly, initiated the biggest position in Extended Stay America Inc (NYSE:STAY). According to regulatory filings, the fund had $14.9 million invested in the company at the end of the quarter. Paul Marshall and Ian Wace’s Marshall Wace LLP also made a $14.2 million investment in the stock during the quarter. The other funds with new positions in the stock are Ben Levine, Andrew Manuel and Stefan Renold’s LMR Partners, Daniel S. Och’s OZ Management, and Gregg Moskowitz’s Interval Partners.

Let’s go over hedge fund activity in other stocks similar to Extended Stay America Inc (NYSE:STAY). These stocks are B&G Foods, Inc. (NYSE:BGS), Nortel Inversora S.A. (ADR) (NYSE:NTL), Team Health Holdings LLC (NYSE:TMH), and RLI Corp. (NYSE:RLI). All of these stocks’ market caps are similar to STAY’s market cap.

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $225 million. That figure was a whooping $1.22 billion in STAY’s case. Team Health Holdings LLC (NYSE:TMH) is the most popular stock in this table. On the other hand Nortel Inversora S.A. (ADR) (NYSE:NTL) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Extended Stay America Inc (NYSE:STAY) 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.