How Chemtura Corp (CHMT) Stacks Up Against Its Peers

Consequently, specific money managers have been driving this bullishness. Magnetar Capital initiated the most outsized position in Chemtura Corp (NYSE:CHMT). Hutchin Hill Capital also initiated a $23.5 million position during the quarter. The following funds were also among the new CHMT investors: Joel Greenblatt’s Gotham Asset Management, Matthew Halbower’s Pentwater Capital Management, and Ian Cumming and Joseph Steinberg’s Leucadia National.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Chemtura Corp (NYSE:CHMT) but similarly valued. These stocks are FTI Consulting, Inc. (NYSE:FCN), Oasis Petroleum Inc. (NYSE:OAS), Main Street Capital Corporation (NYSE:MAIN), and Silicon Motion Technology Corp. (ADR) (NASDAQ:SIMO). This group of stocks’ market values resemble CHMT’s market value.

As you can see these stocks had an average of 19.5 hedge funds with bullish positions and the average amount invested in these stocks was $240 million. That figure was $380 million in CHMT’s case. Oasis Petroleum Inc. (NYSE:OAS) is the most popular stock in this table. On the other hand Main Street Capital Corporation (NYSE:MAIN) is the least popular one with only 8 bullish hedge fund positions. Chemtura Corp (NYSE:CHMT) 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 OAS might be a better candidate to consider a long position in.

Disclosure: None