Hedge Funds Are Betting On FactSet Research Systems Inc. (FDS)

Now, specific money managers were breaking ground themselves. Millennium Management, managed by Israel Englander, established the biggest position in FactSet Research Systems Inc. (NYSE:FDS). Millennium Management had $4.4 million invested in the company at the end of the quarter. Ben Levine, Andrew Manuel and Stefan Renold’s LMR Partners also initiated a $4 million position during the quarter. The other funds with brand new FDS positions are Simon Sadler’s Segantii Capital, Josh Goldberg’s G2 Investment Partners Management, and Ray Dalio’s Bridgewater Associates.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as FactSet Research Systems Inc. (NYSE:FDS) but similarly valued. We will take a look at Alliant Energy Corporation (NYSE:LNT), AutoNation, Inc. (NYSE:AN), Duke Realty Corp (NYSE:DRE), and Weatherford International Ltd (NYSE:WFT). This group of stocks’ market caps match FDS’s market cap.

As you can see these stocks had an average of 22 hedge funds with bullish positions and the average amount invested in these stocks was $516 million. That figure was $170 million in FDS’s case. AutoNation, Inc. (NYSE:AN) is the most popular stock in this table. On the other hand Duke Realty Corp (NYSE:DRE) is the least popular one with only 12 bullish hedge fund positions. FactSet Research Systems Inc. (NYSE:FDS) 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 AN might be a better candidate to consider a long position.