Hedge Funds Are Betting On Virgin America Inc (VA)

Consequently, specific money managers were leading the bulls’ herd. Two Sigma Advisors, managed by John Overdeck and David Siegel, initiated the biggest position in Virgin America Inc (NASDAQ:VA). The fund had $14.4 million invested in the company at the end of the quarter. Doug Gordon, Jon Hilsabeck and Don Jabro’s Shellback Capital also initiated an $11.1 million position during the quarter. The other funds with new positions in the stock are Clint Carlson’s Carlson Capital, Steve Cohen’s Point72 Asset Management, and Paul Marshall and Ian Wace’s Marshall Wace LLP.

Let’s check out hedge fund activity in other stocks similar to Virgin America Inc (NASDAQ:VA). We will take a look at 2U Inc (NASDAQ:TWOU), Mine Safety Appliances (NYSE:MSA), Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD), and The E.W. Scripps Company (NYSE:SSP). This group of stocks’ market valuations are similar to VA’s market valuation.

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 $140 million. In the case of VA, that figure was $586 million. 2U Inc (NASDAQ:TWOU) and Mine Safety Appliances (NYSE:MSA) lead the pack, while The E.W. Scripps Company (NYSE:SSP) is the least popular one with only 9 bullish hedge fund positions. Compared to these stocks Virgin America Inc (NASDAQ:VA) is more popular among hedge funds and has attracted more the hedgies’ money. 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.