Here is What Hedge Funds Think About Sprint Corp (S)

As industrywide interest jumped, some big names were leading the bulls’ herd. Jericho Capital Asset Management, initiated the biggest position in Sprint Corp (NYSE:S). Benjamin A. Smith’s Laurion Capital Management also initiated a $19.6 million position during the quarter. The following funds were also among the new S investors: Ascend Capital, Louis Bacon’s Moore Global Investments, and Andrew Feldstein and Stephen Siderow’s Blue Mountain Capital.

Let’s now review hedge fund activity in other stocks similar to Sprint Corp (NYSE:S). These stocks are Dr Pepper Snapple Group Inc. (NYSE:DPS), The Clorox Company (NYSE:CLX), DTE Energy Co (NYSE:DTE), and The J.M. Smucker Company (NYSE:SJM). This group of stocks’ market caps resemble S’s market cap.

As you can see these stocks had an average of 26 hedge funds with bullish positions and the average amount invested in these stocks was $895 million. That figure was $331 million in S’s case. Dr Pepper Snapple Group Inc. (NYSE:DPS) is the most popular stock in this table. On the other hand DTE Energy Co (NYSE:DTE) is the least popular one with only 20 bullish hedge fund positions. Sprint Corp (NYSE:S) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard DPS might be a better candidate to consider a long position.

Disclosure: None