Hedge Funds Are Betting On INC Research Holdings Inc (INCR)

As aggregate interest increased, some big names were breaking ground themselves. Samlyn Capital, managed by Robert Pohly, assembled the most outsized position in INC Research Holdings Inc (NASDAQ:INCR). The fund reportedly had $20.8 million invested in the company at the end of the quarter. Jim Simons’s Renaissance Technologies also initiated a $16.6 million position during the quarter. The other funds with brand new INCR positions are Neil Chriss’s Hutchin Hill Capital, Brad Farber’s Atika Capital, and Matthew Hulsizer’s PEAK6 Capital Management.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as INC Research Holdings Inc (NASDAQ:INCR) but similarly valued. These stocks are Northstar Realty Finance Corp. (NYSE:NRF), Boyd Gaming Corporation (NYSE:BYD), Artisan Partners Asset Management Inc (NYSE:APAM), and Verint Systems Inc. (NASDAQ:VRNT). This group of stocks’ market valuations are closest to INCR’s market valuation.

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 $343 million. That figure was $368 million in INCR’s case. Northstar Realty Finance Corp. (NYSE:NRF) is the most popular stock in this table. On the other hand Artisan Partners Asset Management Inc (NYSE:APAM) is the least popular one with only 10 bullish hedge fund positions. INC Research Holdings Inc (NASDAQ:INCR) 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 NRF might be a better candidate to consider a long position.

Disclosure: none.