WL Ross Holding Corp (WLRHU): Are Hedge Funds Right About This Stock?

As one would reasonably expect, specific money managers were leading the bulls’ herd. Canyon Capital Advisors, managed by Joshua Friedman and Mitchell Julis, created the most outsized call position in WL Ross Holding Corp (NASDAQ:WLRHU). Canyon Capital Advisors had $3.2 million invested in the company at the end of the quarter. Ira Unschuld’s Brant Point Investment Management also initiated a $0.2 million position during the quarter.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as WL Ross Holding Corp (NASDAQ:WLRHU) but similarly valued. These stocks are Star Bulk Carriers Corp. (NASDAQ:SBLK), Ennis, Inc. (NYSE:EBF), Ardelyx Inc (NASDAQ:ARDX), and Altisource Portfolio Solutions S.A. (NASDAQ:ASPS). All of these stocks’ market caps are closest to WLRHU’s market cap.

As you can see these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $125 million. That figure was $109 million in WLRHU’s case. Ennis, Inc. (NYSE:EBF) is the most popular stock in this table, while Star Bulk Carriers Corp. (NASDAQ:SBLK) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks WL Ross Holding Corp (NASDAQ:WLRHU) 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.