Do Hedge Funds Love International Game Technology Ordinary Shares (IGT)?

Consequently, key money managers have been driving this bullishness. Eduardo Abush’s Waterfront Capital Partners created the biggest position in International Game Technology Ordinary Shares (NYSE:IGT). Waterfront Capital Partners had $28.1 million invested in the company at the end of the quarter. Dmitry Balyasny’s Balyasny Asset Management also initiated a $18.2 million position during the quarter. The following funds were also among the new IGT investors: Robert B. Gillam’s McKinley Capital Management, Solomon Kumin’s Folger Hill Asset Management, and Matthew Tewksbury’s Stevens Capital Management.

Let’s check out hedge fund activity in other stocks similar to International Game Technology Ordinary Shares (NYSE:IGT). We will take a look at Frontier Communications Corp (NASDAQ:FTR), AptarGroup, Inc. (NYSE:ATR), Ares Capital Corporation (NASDAQ:ARCC), and Communications Sales & Leasing Inc (NASDAQ:CSAL). All of these stocks’ market caps are closest to IGT’s market cap.

As you can see these stocks had an average of 20 funds with bullish positions and the average amount invested in these stocks was $216 million, which is lower than the $674 million figure in IGT’s case. Frontier Communications Corp (NASDAQ:FTR) is the most popular stock in this table. On the other hand AptarGroup, Inc. (NYSE:ATR) is the least popular one with only 12 bullish hedge fund positions. Compared to these stocks International Game Technology Ordinary Shares (NYSE:IGT) 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.

Disclosure: none