Here is What Hedge Funds Think About Lifelock Inc (LOCK)

With a general bullishness amongst the heavyweights, key money managers were breaking ground themselves. Baupost Group, managed by Seth Klarman, assembled the most outsized position in Lifelock Inc (NYSE:LOCK). Baupost Group had $39.1 million invested in the company at the end of the quarter. Alok Agrawal’s Bloom Tree Partners also initiated a $20.4 million position during the quarter. The other funds with brand new LOCK positions are Sahm Adrangi’s Kerrisdale Capital, Charles Paquelet’s Skylands Capital, and Steve Cohen’s Point72 Asset Management.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Lifelock Inc (NYSE:LOCK) but similarly valued. These stocks are ImmunoGen, Inc. (NASDAQ:IMGN), Greenhill & Co., Inc. (NYSE:GHL), Hibbett Sports, Inc. (NASDAQ:HIBB), and Endologix, Inc. (NASDAQ:ELGX). This group of stocks’ market valuations are closest to LOCK’s market valuation.

As you can see these stocks had an average of 15.25 hedge funds with bullish positions and the average amount invested in these stocks was $97 million. That figure was $193 million in LOCK’s case. Endologix, Inc. (NASDAQ:ELGX) is the most popular stock in this table. On the other hand Hibbett Sports, Inc. (NASDAQ:HIBB) is the least popular one with only 11 bullish hedge fund positions. Compared to these stocks Lifelock Inc (NYSE:LOCK) 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.