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Diebold Inc (DBD): Hedge Fund Ownership Surges 90% in 1 Year

As industrywide interest jumped, key hedge funds have been driving this bullishness. Balyasny Asset Management initiated the largest position in Diebold Inc (NYSE:DBD). Balyasny Asset Management had $27.4 million invested in the company at the end of the quarter. Alexander Roepers’ Atlantic Investment Management also initiated a $9 million position during the quarter. The following funds were also among the new DBD investors: Phill Gross and Robert Atchinson’s Adage Capital Management, Paul Marshall and Ian Wace’s Marshall Wace LLP, and Matthew Tewksbury’s Stevens Capital Management.

Let’s go over hedge fund activity in other stocks similar to Diebold Inc (NYSE:DBD). These stocks are Eagle Bancorp, Inc. (NASDAQ:EGBN), Steelcase Inc. (NYSE:SCS), Gannett Co., Inc. (NYSE:GCI), and Shutterfly, Inc. (NASDAQ:SFLY). This group of stocks’ market valuations are closest to DBD’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
EGBN 16 32287 4
SCS 18 68883 -2
GCI 18 65906 2
SFLY 23 460368 1

As you can see these stocks had an average of 18.75 hedge funds with bullish positions and the average amount invested in these stocks was $157 million. That figure was $288 million in DBD’s case. Shutterfly, Inc. (NASDAQ:SFLY) is the most popular stock in this table. On the other hand Eagle Bancorp, Inc. (NASDAQ:EGBN) is the least popular one with only 16 bullish hedge fund positions. Diebold Inc (NYSE:DBD) 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 pouring money into. In this regard SFLY might be a better candidate to consider for a long position.

Disclosure: None

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