Is Hancock Holding Company (HBHC) Going to Burn These Hedge Funds?

Consequently, specific money managers have been driving this bullishness. Arrowstreet Capital initiated the biggest position in Hancock Holding Company (NASDAQ:HBHC). Arrowstreet Capital had $3.6 million invested in the company at the end of the quarter. Paul Tudor Jones’ Tudor Investment Corp also initiated a $0.9 million position during the quarter. The other funds with brand new HBHC positions are Israel Englander’s Millennium Management, Gregory Fraser, Rudolph Kluiber, and Timothy Krochuk’s GRT Capital Partners, and Matthew Tewksbury’s Stevens Capital Management.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Hancock Holding Company (NASDAQ:HBHC) but similarly valued. These stocks are Trinseo S.A. (NYSE:TSE), Wolverine World Wide, Inc. (NYSE:WWW), Dynegy Inc. (NYSE:DYN), and IMAX Corporation (USA) (NYSE:IMAX). This group of stocks’ market values are similar to HBHC’s market value.

As you can see these stocks had an average of 25 hedge funds with bullish positions and the average amount invested in these stocks was $462 million. That figure was $42 million in HBHC’s case. Dynegy Inc. (NYSE:DYN) is the most popular stock in this table. On the other hand Wolverine World Wide, Inc. (NYSE:WWW) is the least popular one with only 13 bullish hedge fund positions. Hancock Holding Company (NASDAQ:HBHC) 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 recently. In this regard TSE might be a better candidate to consider taking a long position in.

Disclosure: None