Hedge Funds Are Betting On FleetMatics Group PLC (FLTX)

As one would reasonably expect, specific money managers were leading the bulls’ herd. PEAK6 Capital Management, managed by Matthew Hulsizer, assembled the largest position in FleetMatics Group PLC (NYSE:FLTX). PEAK6 Capital Management had $0.8 million invested in the company at the end of the quarter. Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital also made an $0.5 million investment in the stock during the quarter. The other funds with new positions in the stock are Paul Tudor Jones’s Tudor Investment Corp and Matthew Hulsizer’s PEAK6 Capital Management.

Let’s also examine hedge fund activity in other stocks similar to FleetMatics Group PLC (NYSE:FLTX). We will take a look at Teekay LNG Partners L.P. (NYSE:TGP), InterXion Holding NV (NYSE:INXN), Pegasystems Inc. (NASDAQ:PEGA), and Bitauto Hldg Ltd (ADR) (NYSE:BITA). This group of stocks’ market caps resemble FLTX’s market cap.

As you can see these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $295 million. That figure was just $69 million in FLTX’s case. InterXion Holding NV (NYSE:INXN) is the most popular stock in this table with a total of 31 funds reporting long positions. On the other hand Teekay LNG Partners L.P. (NYSE:TGP) is the least popular one with only 7 bullish hedge fund positions. FleetMatics Group PLC (NYSE:FLTX) is not the least popular stock in this group, but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard INXN might be a better candidate to consider a long position.