Hedge Funds Are Crazy About Diamond Resorts International Inc (DRII)

As one would reasonably expect, some big names were breaking ground themselves. Scoggin, managed by Curtis Schenker and Craig Effron, assembled the most valuable position in Diamond Resorts International Inc (NYSE:DRII). The fund had $22.9 million invested in the company at the end of the quarter. Vishal Bhutani and Joshua Bederman’s Pyrrho Capital Management also made a $7.1 million investment in the stock during the quarter. The other funds with new positions in the stock are Rod Hinze’s KeyPoint Capital Management and Glenn Russell Dubin’s Highbridge Capital Management.

Let’s go over hedge fund activity in other stocks similar to Diamond Resorts International Inc (NYSE:DRII). We will take a look at Marcus & Millichap Inc (NYSE:MMI), Enbridge Energy Management, L.L.C. (NYSE:EEQ), Rexnord Corp (NYSE:RXN), and Ligand Pharmaceuticals Inc. (NASDAQ:LGND). This group of stocks’ market caps are closest to DRII’s market cap.

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 $118 million. That figure was $289 million in DRII’s case. Rexnord Corp (NYSE:RXN) is the most popular stock in this table. On the other hand Enbridge Energy Management, L.L.C. (NYSE:EEQ) is the least popular one with only 7 bullish hedge fund positions. Diamond Resorts International Inc (NYSE:DRII) outshines them all, having attracted the attention and the money of 32 elite investors. 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.