Hedge Funds Are Buying Medpace Holdings Inc (MEDP)

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As industrywide interest jumped, key money managers have jumped into Medpace Holdings Inc (NASDAQ:MEDP) headfirst. Efrem Kamen’s Pura Vida Investments also initiated a significant position in Medpace Holdings Inc (NASDAQ:MEDP). The fund reportedly had $4.73 million invested in the company at the end of the quarter.Kris Jenner, Gordon Bussard, Graham McPhail’s Rock Springs Capital Management also amassed a $4.03 million position during the quarter. The following funds were also among the new MEDP investors: Michael Castor’s Sio Capital, Israel Englander’s Millennium Management and Ken Griffin’s Citadel Investment Group.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Medpace Holdings Inc (NASDAQ:MEDP) but similarly valued. These stocks are Nextera Energy Partners LP (NYSE:NEP), Schweitzer-Mauduit International, Inc. (NYSE:SWM), BMC Stock Holdings Inc (NASDAQ:BMCH), and RMR Group Inc (NASDAQ:RMR). This group of stocks’ market caps are similar to MEDP’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
NEP 19 129380 1
SWM 14 59504 -3
BMCH 25 239738 5
RMR 11 27397 3

As you can see these stocks had an average of 17 hedge funds with bullish positions and the average amount invested in these stocks was $114 million. That figure was $51 million in MEDP’s case. BMC Stock Holdings Inc (NASDAQ:BMCH) is the most popular stock in this table. On the other hand RMR Group Inc (NASDAQ:RMR) is the least popular one with only 11 bullish hedge fund positions. Medpace Holdings Inc (NASDAQ:MEDP) 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 BMCH might be a better candidate to consider taking a long position in.

Disclosure: none.

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