Here is What Hedge Funds Think About Axiall Corp (AXLL)

Since Axiall Corp (NYSE:AXLL) has faced falling interest from hedge fund managers, we can see that there lies a certain “tier” of hedge funds that elected to cut their positions entirely by the end of the third quarter. It’s worth mentioning that Lee Ainslie’s Maverick Capital dropped the largest investment of all the hedgies tracked by Insider Monkey, totaling close to $36.7 million in stock, and Kevin D. Eng’s Columbus Hill Capital Management was right behind this move, as the fund cut about $16.1 million worth. These moves are important to note, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Axiall Corp (NYSE:AXLL) but similarly valued. We will take a look at Benchmark Electronics, Inc. (NYSE:BHE), Emergent Biosolutions Inc (NYSE:EBS), Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX), and Sykes Enterprises, Incorporated (NASDAQ:SYKE). This group of stocks’ market valuations are similar to AXLL’s market valuation.

As you can see these stocks had an average of 17.5 hedge funds with bullish positions and the average amount invested in these stocks was $123 million. That figure was $270 million in AXLL’s case. Benchmark Electronics, Inc. (NYSE:BHE) is the most popular stock in this table. On the other hand Sykes Enterprises, Incorporated (NASDAQ:SYKE) is the least popular one with only 16 bullish hedge fund positions. Compared to these stocks Axiall Corp (NYSE:AXLL) 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.