How City Office REIT Inc (CIO) Ranks Amongst Its Peers

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Consequently, specific money managers have been driving this bullishness. Arrowstreet Capital initiated the largest position in City Office REIT Inc (NYSE:CIO). Arrowstreet Capital had $0.6 million invested in the company at the end of the quarter. Cliff Asness’ AQR Capital Management also initiated a $0.2 million position during the quarter.

Let’s now review hedge fund activity in other stocks similar to City Office REIT Inc (NYSE:CIO). We will take a look at Lionbridge Technologies, Inc. (NASDAQ:LIOX), Novan Inc (NASDAQ:NOVN), Aerohive Networks Inc (NYSE:HIVE), and Bank of Marin Bancorp (NASDAQ:BMRC). This group of stocks’ market values match CIO’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
LIOX 17 72332 0
NOVN 5 18321 5
HIVE 10 28795 1
BMRC 5 23383 -1

As you can see these stocks had an average of 9 hedge funds with bullish positions and the average amount invested in these stocks was $36 million. That figure was $21 million in CIO’s case. Lionbridge Technologies, Inc. (NASDAQ:LIOX) is the most popular stock in this table. On the other hand Novan Inc (NASDAQ:NOVN) is the least popular one with only 5 bullish hedge fund positions. City Office REIT Inc (NYSE:CIO) 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 LIOX might be a better candidate to consider taking a long position in.

Disclosure: None

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