Do Hedge Funds Love Avon Products, Inc. (AVP)?

As aggregate interest increased, specific money managers have jumped into Avon Products, Inc. (NYSE:AVP) headfirst. Melvin Capital Management, managed by Gabriel Plotkin, created the most valuable position in Avon Products, Inc. (NYSE:AVP). According to regulatory filings, the fund had $30.6 million invested in the company at the end of the quarter. Guy Shahar’s DSAM Partners also initiated a $6 million position during the quarter. The other funds with new positions in the stock are Ken Griffin’s Citadel Investment Group, Mike Vranos’s Ellington, and Robert I. Usdan and Wayne K. Goldstein’s Endicott Management.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Avon Products, Inc. (NYSE:AVP) but similarly valued. These stocks are South State Corporation (NASDAQ:SSB), Cooper Tire & Rubber Company (NYSE:CTB), LendingClub Corp (NYSE:LC), and Government Properties Income Trust (NYSE:GOV). This group of stocks’ market valuations are similar to AVP’s market valuation.

As you can see these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $129 million. That figure was $375 million in AVP’s case. LendingClub Corp (NYSE:LC) is the most popular stock in this table. On the other hand Government Properties Income Trust (NYSE:GOV) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks Avon Products, Inc. (NYSE:AVP) 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.

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