Do Hedge Funds Love Fiat Chrysler Automobiles NV (NYSE:FCAU)?

With a general bullishness amongst the heavyweights, specific money managers were breaking ground themselves. Raging Capital Management, led by William C. Martin, created the biggest call position in Fiat Chrysler Automobiles NV (NYSE:FCAU). According to its latest 13F filing, the fund had $57.6 million invested in the company at the end of the quarter. Noam Gottesman’s GLG Partners also initiated a $3.3 million position during the quarter. The following funds were also among the new FCAU investors: Scott Lawrence Swid’s SLS Management, Bart Baum’s Ionic Capital Management, and Benjamin A. Smith’s Laurion Capital Management.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Fiat Chrysler Automobiles NV (NYSE:FCAU) but similarly valued. We will take a look at SL Green Realty Corp (NYSE:SLG), ONEOK, Inc. (NYSE:OKE), Vantiv Inc (NYSE:VNTV), and Hologic, Inc. (NASDAQ:HOLX). This group of stocks’ market valuations resemble FCAU’s market valuation.

As you can see these stocks had an average of 25 hedge funds with bullish positions and the average amount invested in these stocks was $422 million. That figure was $717 million in FCAU’s case. Hologic, Inc. (NASDAQ:HOLX) is the most popular stock in this table. On the other hand ONEOK, Inc. (NYSE:OKE) is the least popular one with only 14 bullish hedge fund positions. Fiat Chrysler Automobiles NV (NYSE:FCAU) 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 HOLX might be a better candidate to consider taking a long position in.

Disclosure: none.