Here is What Hedge Funds Think About Oclaro, Inc. (OCLR)

Consequently, key money managers have jumped into Oclaro, Inc. (NASDAQ:OCLR) headfirst. Jim Simons’ Renaissance Technologies initiated the largest position in Oclaro, Inc. (NASDAQ:OCLR). Renaissance Technologies had $12.7 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also made a $10.1 million investment in the stock during the quarter. The other funds with brand new OCLR positions are D. E. Shaw’s D E Shaw, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, and Paul Marshall and Ian Wace’s Marshall Wace LLP.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Oclaro, Inc. (NASDAQ:OCLR) but similarly valued. These stocks are Cubic Corporation (NYSE:CUB), Franklin Street Properties Corp. (NYSEAMEX:FSP), WesBanco, Inc. (NASDAQ:WSBC), and Shake Shack Inc (NYSE:SHAK). This group of stocks’ market caps are similar to OCLR’s market cap.

As you can see these stocks had an average of 11 investors with long positions and the average amount invested in these stocks was $71 million. That figure was $248 million in OCLR’s case. Cubic Corporation (NYSE:CUB) is the most popular stock in this table. On the other hand WesBanco, Inc. (NASDAQ:WSBC) is the least popular one with only seven bullish hedge fund positions. Compared to these stocks Oclaro, Inc. (NASDAQ:OCLR) 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.