Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Do Hedge Funds Love Michael Kors Holdings Ltd (KORS)?

As one would reasonably expect, key hedge funds have jumped into Michael Kors Holdings Ltd (NYSE:KORS) headfirst. MIK Capital, managed by Kamyar Khajavi, assembled the most outsized position in Michael Kors Holdings Ltd (NYSE:KORS). According to regulatory filings, the fund had $41.5 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also made a $12.2 million investment in the stock during the quarter. The following funds were also among the new KORS investors: D. E. Shaw’s D E Shaw, David Keidan’s Buckingham Capital Management, and David Harding’s Winton Capital Management.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Michael Kors Holdings Ltd (NYSE:KORS) but similarly valued. These stocks are Amdocs Limited (NYSE:DOX), Cemex SAB de CV (ADR) (NYSE:CX), Juniper Networks, Inc. (NYSE:JNPR), and CDK Global Inc (NASDAQ:CDK). This group of stocks’ market valuations are closest to KORS’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
DOX 24 602590 4
CX 24 532753 5
JNPR 27 477518 0
CDK 42 2747540 -3

As you can see these stocks had an average of 29 hedge funds with bullish positions and the average amount invested in these stocks was $1.09 billion. That figure was just $584 million in KORS’s case. CDK Global Inc (NASDAQ:CDK) is the most popular stock in this table. On the other hand Amdocs Limited (NYSE:DOX) is the least popular one with only 24 bullish hedge fund positions. Michael Kors Holdings Ltd (NYSE:KORS) 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 CDK might be a better candidate to consider a long position.

Disclosure: none.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading...