Hedge Funds Are Betting On LTC Properties Inc (LTC)

As industrywide interest jumped, key hedge funds were breaking ground themselves. Millennium Management established the most valuable position in LTC Properties Inc (NYSE:LTC). Millennium Management had $1.6 million invested in the company at the end of the quarter. Visium Asset Management also made a $0.6 million investment in the stock during the quarter. The other funds with new positions in the stock are Mike Vranos’ Ellington, Andy Redleaf’s Whitebox Advisors, and Peter Muller’s PDT Partners.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as LTC Properties Inc (NYSE:LTC) but similarly valued. These stocks are Seaspan Corporation (NYSE:SSW), FBL Financial Group (NYSE:FFG), Community Bank System, Inc. (NYSE:CBU), and Express, Inc. (NYSE:EXPR). This group of stocks’ market values resembles LTC Properties Inc (NYSE:LTC)’s market value.

As you can see, these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $79 million. That figure was $12 million in LTC Properties Inc (NYSE:LTC)’s case. Express, Inc. (NYSE:EXPR) is the most popular stock in this table. On the other hand, Community Bank System, Inc. (NYSE:CBU) is the least popular one with only 6 bullish hedge fund positions. LTC Properties Inc (NYSE:LTC) 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, Express, Inc. (NYSE:EXPR) might be a better candidate to consider a long position.