ManpowerGroup Inc. (MAN): Are Hedge Funds Right About This Stock?

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As one would reasonably expect, key money managers have been driving this bullishness. Millennium Management initiated the largest position in ManpowerGroup Inc. (NYSE:MAN). The fund reportedly had $9.9 million invested in the company at the end of the quarter. Matthew Tewksbury’s Stevens Capital Management also initiated a $2.7 million position during the quarter. The following funds were also among the new MAN investors: Ken Griffin’s Citadel Investment Group, Paul Marshall and Ian Wace’s Marshall Wace LLP, and Peter Algert and Kevin Coldiron’s Algert Coldiron Investors.

Let’s check out hedge fund activity in other stocks similar to ManpowerGroup Inc. (NYSE:MAN). These stocks are Veeva Systems Inc (NYSE:VEEV), Erie Indemnity Company (NASDAQ:ERIE), Blue Buffalo Pet Products Inc (NASDAQ:BUFF), and Donaldson Company, Inc. (NYSE:DCI). This group of stocks’ market values are similar to MAN’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
VEEV 23 254286 2
ERIE 9 61054 -1
BUFF 28 309153 2
DCI 12 130412 0

As you can see these stocks had an average of 18 hedge funds with bullish positions and the average amount invested in these stocks was $189 million. That figure was $447 million in MAN’s case. Blue Buffalo Pet Products Inc (NASDAQ:BUFF) is the most popular stock in this table. On the other hand Erie Indemnity Company (NASDAQ:ERIE) is the least popular one with only 9 bullish hedge fund positions. Compared to these stocks ManpowerGroup Inc. (NYSE:MAN) 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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