Staples, Inc. (SPLS): Hedge Funds Are Snapping Up

As industrywide interest jumped, specific money managers were leading the bulls’ herd. Winton Capital Management, managed by David Harding, created the most valuable position in Staples, Inc. (NASDAQ:SPLS). The fund had $8.7 million invested in the company at the end of the quarter. Steve Cohen’s Point72 Asset Management also made a $4.1 million investment in the stock during the quarter. The other funds with new positions in the stock are Israel Englander’s Millennium Management, Andrew Feldstein and Stephen Siderow’s Blue Mountain Capital, and Ken Griffin’s Citadel Investment Group.

Let’s go over hedge fund activity in other stocks similar to Staples, Inc. (NASDAQ:SPLS). These stocks are SS and C Technologies Holdings Inc (NASDAQ:SSNC), Reliance Steel & Aluminum (NYSE:RS), Gol Linhas Aereas Inteligentes SA (ADR) (NYSE:GOL), and West Pharmaceutical Services Inc. (NYSE:WST). This group of stocks’ market valuations match SPLS’s market valuation.

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 $479 million. That figure was $664 million in SPLS’s case. SS and C Technologies Holdings Inc (NASDAQ:SSNC) is the most popular stock in this table. On the other hand Gol Linhas Aereas Inteligentes SA (ADR) (NYSE:GOL) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks Staples, Inc. (NASDAQ:SPLS) 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.