Lennar Corporation (LEN) Proving To Be Popular Among Hedge Funds

Page 2 of 2

As industrywide interest jumped, key money managers have been driving this bullishness. MD Sass, managed by Martin D. Sass, initiated the largest position in Lennar Corporation (NYSE:LEN). MD Sass had $27 million invested in the company at the end of the quarter. Greg Poole’s Echo Street Capital Management also initiated a $13.2 million position during the quarter. The other funds with brand new LEN positions are William Harnisch’s Peconic Partners LLC, Clifford Fox’s Columbus Circle Investors, and Steve Cohen’s Point72 Asset Management.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Lennar Corporation (NYSE:LEN) but similarly valued. These stocks are Juniper Networks, Inc. (NYSE:JNPR), EQT Corporation (NYSE:EQT), Mobileye NV (NYSE:MBLY), and Ally Financial Inc (NYSE:ALLY). This group of stocks’ market valuations match LEN’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
JNPR 41 928212 -4
EQT 39 922108 2
MBLY 32 704976 -7
ALLY 57 3532229 1

As you can see these stocks had an average of 42.25 hedge funds with bullish positions and the average amount invested in these stocks was $1.52 billion. That figure was $1.11 billion in LEN’s case. Ally Financial Inc (NYSE:ALLY) is the most popular stock in this table. On the other hand Mobileye NV (NYSE:MBLY) is the least popular one with only 32 bullish hedge fund positions. Lennar Corporation (NYSE:LEN) is not the most popular stock in this group but hedge fund interest is still above average and rising. This is a positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard ALLY might be a better candidate to consider a long position in at this time.

Page 2 of 2