Old Republic International Corporation (ORI): Are Hedge Funds Right About This Stock?

As one would reasonably expect, key money managers were leading the bulls’ herd. Arrowstreet Capital, managed by Peter Rathjens, Bruce Clarke and John Campbell, initiated the biggest position in Old Republic International Corporation (NYSE:ORI). Arrowstreet Capital had $5.8 million invested in the company at the end of the quarter. Ken Fisher’s Fisher Asset Management also made a $2.9 million investment in the stock during the quarter. The other funds with new positions in the stock are John Overdeck and David Siegel’s Two Sigma Advisors, Chao Ku’s Nine Chapters Capital Management, and Jim Simons’s Renaissance Technologies.

Let’s check out hedge fund activity in other stocks similar to Old Republic International Corporation (NYSE:ORI). We will take a look at Juno Therapeutics Inc (NASDAQ:JUNO), United Microelectronics Corp (ADR) (NYSE:UMC), Compania Cervecerias Unidas S.A. (ADR) (NYSE:CCU), and Biomed Realty Trust Inc (NYSE:BMR). All of these stocks’ market caps are closest to ORI’s market cap.

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $124 million. That figure was $173 million in ORI’s case. Biomed Realty Trust Inc (NYSE:BMR) is the most popular stock in this table. On the other hand Compania Cervecerias Unidas S.A. (ADR) (NYSE:CCU) is the least popular one with only 8 bullish hedge fund positions. Compared to these stocks Old Republic International Corporation (NYSE:ORI), with 21 bullish hedge fund positions, 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.