L Brands Inc (NYSE:LB): Are Hedge Funds Right About This Stock?

As aggregate interest increased, specific money managers have been driving this bullishness. Israel Englander’s Millennium Management created the biggest position in L Brands Inc (NYSE:LB). Millennium Management had $18 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also made a $17.4 million investment in the stock during the quarter. The other funds with new positions in the stock are Guy Shahar’s DSAM Partners, Ray Dalio’s Bridgewater Associates, and George Hall’s Clinton Group.

Let’s check out hedge fund activity in other stocks similar to L Brands Inc (NYSE:LB). These stocks are JD.Com Inc (ADR) (NASDAQ:JD), Cummins Inc. (NYSE:CMI), TELUS Corporation (USA) (NYSE:TU), and Hess Corp. (NYSE:HES). All of these stocks’ market caps are closest to LB’s market cap.

As you can see these stocks had an average of 30 funds holding long positions and the average amount invested in these stocks was $2.43 billion. That figure was $1.32 billion in LB’s case. JD.Com Inc (ADR) (NASDAQ:JD) is the most popular stock in this table. On the other hand TELUS Corporation (USA) (NYSE:TU) is the least popular one with only nine bullish hedge fund positions. L Brands Inc (NYSE:LB) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard JD.Com Inc (ADR) (NASDAQ:JD) might be a better candidate to consider a long position.