Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

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.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading...