Hedge Funds Are Buying American Tower Corp (AMT)

With a general bullishness amongst the heavyweights, key money managers were leading the bulls’ herd. Matthew Tewksbury’s Stevens Capital Management made a $14.2 million investment in the stock during the quarter. The other funds with brand new American Tower Corp (NYSE:AMT) positions are Peter Muller’s PDT Partners, Rod Hinze’s KeyPoint Capital Management, and J. Alan Reid, Jr.’s Forward Management.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as American Tower Corp (NYSE:AMT) but similarly valued. These stocks are Deutsche Bank AG (USA) (NYSE:DB), Anthem Inc (NYSE:ANTM), Public Storage (NYSE:PSA), and PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ). This group of stocks’ market valuations matches American Tower Corp (NYSE:AMT)’s market valuation.

As you can see, these stocks had an average of 27 hedge funds with bullish positions and the average amount invested in these stocks was $1.20 billion. That figure was $2.35 billion in American Tower Corp (NYSE:AMT)’s case. Anthem Inc (NYSE:ANTM) is the most popular stock in this table. On the other hand, Deutsche Bank AG (USA) (NYSE:DB) is the least popular one with only 8 bullish hedge fund positions. American Tower Corp (NYSE:AMT) 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, Anthem Inc (NYSE:ANTM) might be a better candidate to consider a long position.