Why Terex Corporation (TEX)’s Stock Is Trading Lower on Friday?

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With a general bullishness amongst the heavyweights, specific money managers were breaking ground themselves. OZ Management established the largest position in Terex Corporation (NYSE:TEX). OZ Management had $42.2 million invested in the company at the end of the quarter. TIG Advisors also made a $42 million investment in the stock during the quarter. The other funds with brand new TEX positions are Isaac Corre’s Governors Lane, Joel Greenblatt’s Gotham Asset Management, and Dmitry Balyasny’s Balyasny Asset Management.

Let’s now review hedge fund activity in other stocks similar to Terex Corporation (NYSE:TEX). We will take a look at DuPont Fabros Technology, Inc. (NYSE:DFT), Qlik Technologies Inc (NASDAQ:QLIK), Tech Data Corp (NASDAQ:TECD), and Akorn, Inc. (NASDAQ:AKRX). This group of stocks’ market caps are similar to TEX’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
DFT 16 324464 3
QLIK 31 659625 -5
TECD 15 184711 -3
AKRX 26 659321 -8

As you can see these stocks had an average of 22 hedge funds with bullish positions and the average amount invested in these stocks was $457 million. That figure was $489 million in TEX’s case. Qlik Technologies Inc (NASDAQ:QLIK) is the most popular stock in this table. On the other hand Tech Data Corp (NASDAQ:TECD) is the least popular one with only 15 bullish hedge fund positions. Compared to these stocks Terex Corporation (NYSE:TEX) 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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