What Hedge Funds Think about RSP Permian Inc (RSPP)?

With a general bullishness amongst the heavyweights, specific money managers have jumped into RSP Permian Inc (NYSE:RSPP) headfirst. Highland Capital Management, led by James Dondero, established the most valuable position in RSP Permian Inc (NYSE:RSPP). Highland Capital Management had $10.6 million invested in the company at the end of the quarter. Charles Clough’s Clough Capital Partners also initiated a $8.7 million position during the quarter. The other funds with new positions in the stock are John Overdeck and David Siegel’s Two Sigma Advisors, Israel Englander’s Millennium Management, and Charles Davidson’s Wexford Capital.

Let’s now review hedge fund activity in other stocks similar to RSP Permian Inc (NYSE:RSPP). We will take a look at Bright Horizons Family Solutions Inc (NYSE:BFAM), Hudson Pacific Properties Inc (NYSE:HPP), Fibria Celulose SA (ADR) (NYSE:FBR), and Cypress Semiconductor Corporation (NASDAQ:CY). This group of stocks’ market caps match RSPP’s market cap.

As you can see these stocks had an average of 17 funds with bullish positions and the average amount invested in these stocks was $171 million, compared to $286 million in RSPP’s case. Cypress Semiconductor Corporation (NASDAQ:CY) is the most popular stock in this table, while Fibria Celulose SA (ADR) (NYSE:FBR) is the least popular one with only seven bullish hedge fund positions. RSP Permian Inc (NYSE:RSPP) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard Cypress Semiconductor Corporation (NASDAQ:CY) might be a better candidate to consider taking a long position in.

Disclosure: none