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Do Hedge Funds Love Chico’s FAS, Inc. (CHS)?

Consequently, specific money managers were leading the bulls’ herd. Jet Capital Investors, managed by Matthew Mark, established a valuable position in Chico’s FAS, Inc. (NYSE:CHS). Jet Capital Investors had $26.2 million invested in the company at the end of the quarter. Israel Englander’s Millennium Management also initiated a $21.7 million position during the quarter. The following funds were also among the new CHS investors: Paul Marshall and Ian Wace’s Marshall Wace LLP, Chao Ku’s Nine Chapters Capital Management, and Michael Platt and William Reeves’s BlueCrest Capital Mgmt..

Let’s now take a look at hedge fund activity in other stocks similar to Chico’s FAS, Inc. (NYSE:CHS). These stocks are SM Energy Co. (NYSE:SM), Asbury Automotive Group, Inc. (NYSE:ABG), Teekay Corporation (NYSE:TK), and CyrusOne Inc (NASDAQ:CONE). All of these stocks’ market caps are closest to CHS’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
SM 22 229140 0
ABG 27 808240 6
TK 19 290045 -4
CONE 18 227197 -5

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 $389 million. That figure was $399 million in CHS’s case. The least popular stock in this table is CyrusOne Inc (NASDAQ:CONE), and the most popular one is Asbury Automotive Group, Inc. (NYSE:ABG). In comparison, Chico’s FAS, Inc. (NYSE:CHS), with 23 bullish hedge fund positions, is not the most nor the least popular one in this group. Although this may imply it is a stock worth considering, we’d rather spend our time focusing on stocks that hedge funds are piling on. In this regard, ABG might be a better alternative.

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