Should You Buy Cohen & Steers, Inc. (CNS)?

As industrywide interest jumped, key hedge funds were leading the bulls’ herd. Sandler Capital Management created the largest position in Cohen & Steers, Inc. (NYSE:CNS). Sandler Capital Management had $9.2 million invested in the company at the end of the quarter. Paul Tudor Jones’ Tudor Investment Corp also initiated a $0.5 million position during the quarter.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Cohen & Steers, Inc. (NYSE:CNS) but similarly valued. These stocks are Surgical Care Affiliates Inc (NASDAQ:SCAI), MGE Energy, Inc. (NASDAQ:MGEE), Great Western Bancorp Inc (NYSE:GWB), and TerraForm Power Inc (NASDAQ:TERP). All of these stocks’ market caps match CNS’s market cap.

As you can see these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $132 million. That figure was $104 million in CNS’s case. TerraForm Power Inc (NASDAQ:TERP) is the most popular stock in this table. On the other hand MGE Energy, Inc. (NASDAQ:MGEE) is the least popular one with only 9 bullish hedge fund positions. Compared to these stocks Cohen & Steers, Inc. (NYSE:CNS) is as less popular than MGEE. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.

Disclosure: None