Hedge Funds Are Buying HomeAway, Inc. (AWAY)

With a general bullishness amongst the heavyweights, key money managers have jumped into HomeAway, Inc. (NASDAQ:AWAY) headfirst. Millennium Management, managed by Israel Englander, assembled the most outsized position in HomeAway, Inc. (NASDAQ:AWAY). Millennium Management had $35.5 million invested in the company at the end of the quarter. Dmitry Balyasny’s Balyasny Asset Management also made a $7.1 million investment in the stock during the quarter. The other funds with brand new AWAY positions are Lee Munder’s Lee Munder Capital Group, Benjamin A. Smith’s Laurion Capital Management, and Ed Bosek’s BeaconLight Capital.

Let’s check out hedge fund activity in other stocks similar to HomeAway, Inc. (NASDAQ:AWAY). These stocks are Impax Laboratories Inc (NASDAQ:IPXL), CST Brands Inc (NYSE:CST), Dana Holding Corporation (NYSE:DAN), and Pebblebrook Hotel Trust (NYSE:PEB). This group of stocks’ market valuations are closest to AWAY’s market valuation.

As you can see these stocks had an average of 20.25 hedge funds with bullish positions and the average amount invested in these stocks was $429 million. That figure was $492 million in AWAY’s case. Impax Laboratories Inc (NASDAQ:IPXL) is the most popular stock in this table. On the other hand Pebblebrook Hotel Trust (NYSE:PEB) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks HomeAway, Inc. (NASDAQ:AWAY) is more popular among hedge funds. 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.