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Do Hedge Funds Love Harsco Corporation (HSC)?

Now, some big names were leading the bulls’ herd. Stevens Capital Management, managed by Matthew Tewksbury, assembled the biggest position in Harsco Corporation (NYSE:HSC). Stevens Capital Management had $0.6 million invested in the company at the end of the quarter. Paul Tudor Jones’s Tudor Investment Corp also initiated a $0.4 million position during the quarter. The following funds were also among the new HSC investors: Alec Litowitz and Ross Laser’s Magnetar Capital, Mike Vranos’s Ellington, and Jacob Gottlieb’s Visium Asset Management.

Let’s now review hedge fund activity in other stocks similar to Harsco Corporation (NYSE:HSC). We will take a look at Retrophin Inc (NASDAQ:RTRX), Accelerate Diagnostics Inc (NASDAQ:AXDX), National Bank Holdings Corp (NYSE:NBHC), and Kronos Worldwide, Inc. (NYSE:KRO). This group of stocks’ market values are similar to HSC’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
RTRX 22 290891 -3
AXDX 11 57321 -3
NBHC 12 134438 1
KRO 6 1809 -1

As you can see these stocks had an average of 12.75 hedge funds with bullish positions and the average amount invested in these stocks was $121 million. That figure was $69 million in HSC’s case. Retrophin Inc (NASDAQ:RTRX) is the most popular stock in this table. On the other hand Kronos Worldwide, Inc. (NYSE:KRO) is the least popular one with only 6 bullish hedge fund positions. Harsco Corporation (NYSE:HSC) 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 RTRX might be a better candidate to consider a long position.

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