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|
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.