How Envestnet Inc (ENV) Stacks Up Against Its Peers

As industry-wide interest jumped, key money managers were leading the bulls’ herd. Marshall Wace LLP created the most outsized position in Envestnet Inc (NYSE:ENV). PEAK6 Capital Management also initiated a $0.5 million position during the quarter. The only other fund with a new position in the stock was Ken Griffin’s Citadel Investment Group.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Envestnet Inc (NYSE:ENV) but similarly valued. These stocks are Alliance Holdings GP, L.P. (NASDAQ:AHGP), Kaiser Aluminum Corp. (NASDAQ:KALU), Zeltiq Aesthetics Inc (NASDAQ:ZLTQ), and Insperity Inc (NYSE:NSP). This group of stocks’ market values match ENV’s market value.

As you can see these stocks had an average of 15 hedge funds with bullish positions and the average amount invested in these stocks was $167 million. That figure was $20 million in ENV’s case. Zeltiq Aesthetics Inc (NASDAQ:ZLTQ) is the most popular stock in this table. On the other hand Alliance Holdings GP, L.P. (NASDAQ:AHGP) is the least popular one with only 4 bullish hedge fund positions. Envestnet Inc (NYSE:ENV) 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 ZLTQ might be a better candidate to consider taking a long position in.

Disclosure: None