Is Transocean Partners LLC (RIGP) A Good Stock To Buy?

With a general bullishness amongst the heavyweights, specific money managers have been driving this bullishness. GLG Partners, led by Noam Gottesman, initiated the biggest position in Transocean Partners LLC (NYSE:RIGP). GLG Partners had $2.6 million invested in the company at the end of the quarter. John Thiessen’s Vertex One Asset Management also made a $1.1 million investment in the stock during the quarter. The only other fund with a new position in the stock is Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.

Let’s check out hedge fund activity in other stocks similar to Transocean Partners LLC (NYSE:RIGP). We will take a look at Insys Therapeutics Inc (NASDAQ:INSY), Fifth Street Finance Corp. (NASDAQ:FSC), Southside Bancshares, Inc. (NASDAQ:SBSI), and State Bank Financial Corp (NASDAQ:STBZ). This group of stocks’ market caps are closest to RIGP’s market cap.

As you can see these stocks had an average of 12.75 hedge funds with bullish positions and the average amount invested in these stocks was $92 million. That figure was $69 million in RIGP’s case. Insys Therapeutics Inc (NASDAQ:INSY) is the most popular stock in this table. On the other hand Southside Bancshares, Inc. (NASDAQ:SBSI) is the least popular one with only 6 bullish hedge fund positions. Transocean Partners LLC (NYSE:RIGP) 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 INSY might be a better candidate to consider taking a long position in.

Suggested Articles:
Countries With The Highest Depression Rates
Most Expensive Countries To Buy Cigarettes
Best Karaoke Songs For People Who Can’t Sing

Disclosure: None