Do Hedge Funds Love Hornbeck Offshore Services, Inc. (HOS)?

As one would reasonably expect, some big names have been driving this bullishness. Millennium Management, managed by Israel Englander, initiated the largest position in Hornbeck Offshore Services, Inc. (NYSE:HOS). Millennium Management had $6.6 million invested in the company at the end of the quarter. Paul Marshall and Ian Wace’s Marshall Wace LLP also initiated a $1.2 million position during the quarter. The other funds with new positions in the stock are Michael Platt and William Reeves’s BlueCrest Capital Mgmt., Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, and Matthew Tewksbury’s Stevens Capital Management.

Let’s go over hedge fund activity in other stocks similar to Hornbeck Offshore Services, Inc. (NYSE:HOS). These stocks are Lydall, Inc. (NYSE:LDL), Straight Path Communications Inc (NYSEMKT:STRP), Callon Petroleum Company (NYSE:CPE), and E Commerce China Dangdang Inc (ADR) (NYSE:DANG). All of these stocks’ market caps match HOS’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
LDL 12 38284 3
STRP 13 66192 1
CPE 15 36218 5
DANG 8 19471 -6

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $40 million. That figure was $199 million in HOS’s case. Callon Petroleum Company (NYSE:CPE) is the most popular stock in this table with 15 funds holding shares. On the other hand E Commerce China Dangdang Inc (ADR) (NYSE:DANG) is the least popular one with only 8 bullish hedge fund positions. Compared to these stocks Hornbeck Offshore Services, Inc. (NYSE:HOS) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.