Is Clean Harbors Inc (CLH) A Good Stock To Buy?

As aggregate interest increased, key hedge funds were leading the bulls’ herd. HighVista Strategies, managed by Andre F. Perold, assembled the largest position in Clean Harbors Inc (NYSE:CLH). HighVista Strategies had $3.4 million invested in the company at the end of the quarter. Peter Muller’s PDT Partners also made a $1.2 million investment in the stock during the quarter. The other funds with new positions in the stock are Matthew Hulsizer’s PEAK6 Capital Management, David Costen Haley’s HBK Investments, and Benjamin A. Smith’s Laurion Capital Management.

Let’s go over hedge fund activity in other stocks similar to Clean Harbors Inc (NYSE:CLH). We will take a look at World Fuel Services Corporation (NYSE:INT), Myriad Genetics, Inc. (NASDAQ:MYGN), TCF Financial Corporation (NYSE:TCB), and New Jersey Resources Corp (NYSE:NJR). All of these stocks’ market caps resemble CLH’s market cap.

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 $271 million. That figure was $293 million in CLH’s case. World Fuel Services Corporation (NYSE:INT) is the most popular stock in this table. On the other hand New Jersey Resources Corp (NYSE:NJR) is the least popular one with only 14 bullish hedge fund positions. Along with INT, Clean Harbors Inc (NYSE:CLH) is the most popular stock in this group and that makes CLH worht a closer look.