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Big Lots, Inc. (BIG) Having A Big Day Following A Big Quarter

Consequently, specific money managers were breaking ground in BIG themselves. Hutchin Hill Capital, managed by Neil Chriss, initiated the most outsized position in Big Lots, Inc. (NYSE:BIG). Hutchin Hill Capital had $5.5 million invested in the company at the end of the quarter. Mike Vranos’ Ellington also initiated a $2.1 million position during the quarter. The only other fund with a brand new BIG position was Dmitry Balyasny’s Balyasny Asset Management.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Big Lots, Inc. (NYSE:BIG) but similarly valued. We will take a look at Lithia Motors Inc (NYSE:LAD), Kite Pharma Inc (NASDAQ:KITE), Kosmos Energy Ltd (NYSE:KOS), and Snyder S Lance Inc (NASDAQ:LNCE). This group of stocks’ market caps are closest to BIG’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
LAD 28 155672 3
KITE 23 311900 -4
KOS 7 19932 -2
LNCE 15 251366 -3

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 $185 million. That figure was $165 million in BIG’s case. Lithia Motors Inc (NYSE:LAD) is the most popular stock in this table. On the other hand Kosmos Energy Ltd (NYSE:KOS) is the least popular one with only 7 bullish hedge fund positions. Big Lots, Inc. (NYSE:BIG) 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 LAD might be a better candidate to consider a long position.

Disclosure: None

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