Here is What Hedge Funds Think About Chemed Corporation (CHE)

With a general bullishness amongst the heavyweights, specific money managers were leading the bulls’ herd. Millennium Management, managed by Israel Englander, assembled the largest position in Chemed Corporation (NYSE:CHE). Millennium Management had $4.1 million invested in the company at the end of the quarter. Krishen Sud’s Sivik Global Healthcare also made a $2.1 million investment in the stock during the quarter. The other funds with new positions in the stock are Paul Tudor Jones’s Tudor Investment Corp, Matthew Tewksbury’s Stevens Capital Management, and Michael Platt and William Reeves’s BlueCrest Capital Mgmt..

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Chemed Corporation (NYSE:CHE) but similarly valued. We will take a look at FS Investment Corporation (NYSE:FSIC), DSW Inc. (NYSE:DSW), INC Research Holdings Inc (NASDAQ:INCR), and Steelcase Inc. (NYSE:SCS). All of these stocks’ market caps are closest to CHE’s market cap.

As you can see these stocks had an average of 20 hedge funds with bullish positions and the average amount invested in these stocks was $148 million. That figure was $190 million in CHE’s case. DSW Inc. (NYSE:DSW) is the most popular stock in this table. On the other hand FS Investment Corporation (NYSE:FSIC) is the least popular one with only 8 bullish hedge fund positions. Chemed Corporation (NYSE:CHE) 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 DSW might be a better candidate to consider a long position.