IntelSat SA (I)Hedge Funds Are Snapping Up

As one would reasonably expect, key hedge funds were leading the bulls’ herd. Centerbridge Partners, led by Mark T. Gallogly, established the largest position in IntelSat SA (NYSE:I). Centerbridge Partners had $0.4 million invested in the company at the end of the quarter. Jim Simons’ Renaissance Technologies also initiated a $0.3 million position during the quarter. The only other fund with a new position in the stock is Ken Griffin’s Citadel Investment Group.

Let’s also examine hedge fund activity in other stocks similar to IntelSat SA (NYSE:I). These stocks are Advaxis, Inc. (NASDAQ:ADXS), Digi International Inc. (NASDAQ:DGII), AV Homes Inc (NASDAQ:AVHI), and Consolidated-Tomoka Land Co. (NYSEAMEX:CTO). This group of stocks’ market values are closest to I’s market value.

As you can see these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $71 million. That figure was $92 million in I’s case. Digi International Inc. (NASDAQ:DGII) is the most popular stock in this table. On the other hand AV Homes Inc (NASDAQ:AVHI) is the least popular one with only 3 bullish hedge fund positions. IntelSat SA (NYSE:I) 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 DGII might be a better candidate to consider taking a long position in.

Disclosure: None