Is Golar LNG Limited (USA) (GLNG) A Good Stock To Buy?

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As one would reasonably expect, key hedge funds have jumped into Golar LNG Limited (USA) (NASDAQ:GLNG) headfirst. Tide Point Capital, led by Christopher A. Winham, assembled the largest position in Golar LNG Limited (USA) (NASDAQ:GLNG). According to regulatory filings, the fund had $42.4 million invested in the company at the end of the quarter. Jos Shaver’s Electron Capital Partners also initiated a $10.3 million position during the quarter. The other funds with new positions in the stock are Todd J. Kantor’s Encompass Capital Advisors, Paul Marshall and Ian Wace’s Marshall Wace LLP, and James Dinan’s York Capital Management.

Let’s check out hedge fund activity in other stocks similar to Golar LNG Limited (USA) (NASDAQ:GLNG). We will take a look at Parkway Properties Inc (NYSE:PKY), Granite Construction Inc. (NYSE:GVA), American Assets Trust, Inc (NYSE:AAT), and Pattern Energy Group Inc (NASDAQ:PEGI). This group of stocks’ market values are similar to GLNG’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
PKY 11 67753 -2
GVA 13 96846 0
AAT 6 144693 -5
PEGI 15 164750 -2

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $119 million. That figure was $402 million in GLNG’s case. Pattern Energy Group Inc (NASDAQ:PEGI) is the most popular stock in this table. On the other hand American Assets Trust, Inc (NYSE:AAT) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks Golar LNG Limited (USA) (NASDAQ:GLNG) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: none.

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