Is Carlisle Companies Inc. (CSL) A Good Stock To Buy?

As one would reasonably expect, some big names were breaking ground themselves. Interval Partners, managed by Gregg Moskowitz, initiated the largest position in Carlisle Companies, Inc. (NYSE:CSL). Interval Partners had $6.3 million invested in the company at the end of the quarter. Bruce Kovner’s Caxton Associates LP also made a $5.1 million investment in the stock during the quarter. The other funds with brand new CSL positions are Andrew Feldstein and Stephen Siderow’s Blue Mountain Capital, Brian Taylor’s Pine River Capital Management, and Mike Vranos’ Ellington.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Carlisle Companies, Inc. (NYSE:CSL) but similarly valued. These stocks are Equity Lifestyle Properties, Inc. (NYSE:ELS), News Corp (NASDAQ:NWS), Targa Resources Corp (NYSE:TRGP), and Zayo Group Holdings Inc (NYSE:ZAYO). This group of stocks’ market values are similar to CSL’s market value.

As you can see these stocks had an average of 26.75 hedge funds with bullish positions and the average amount invested in these stocks was $766 million. That figure was $362 million in CSL’s case. Zayo Group Holdings Inc (NYSE:ZAYO) is the most popular stock in this table. On the other hand Equity Lifestyle Properties, Inc. (NYSE:ELS) is the least popular one with only 11 bullish hedge fund positions. Carlisle Companies, Inc. (NYSE:CSL) 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 ZAYO might be a better candidate to consider a long position.

Disclosure: None