Do Hedge Funds Love PerkinElmer, Inc. (PKI)?

Consequently, some big names have been driving this bullishness. Columbus Circle Investors, created the largest call position in PerkinElmer, Inc. (NYSE:PKI). Columbus Circle Investors had $46 million invested in the company at the end of the quarter. Greg Poole’s Echo Street Capital Management also made a $21.4 million investment in the stock during the quarter. The other funds with brand new PKI positions are Louis Bacon’s Moore Global Investments, Vishal Saluja and Pham Quang’s Endurant Capital Management, and Phill Gross and Robert Atchinson’s Adage Capital Management.

Let’s now review hedge fund activity in other stocks similar to PerkinElmer, Inc. (NYSE:PKI). We will take a look at Amtrust Financial Services, Inc. (NASDAQ:AFSI), Sirona Dental Systems, Inc. (NASDAQ:SIRO), ITC Holdings Corp. (NYSE:ITC), and Forest City Enterprises, Inc. (NYSE:FCE). All of these stocks’ market caps are closest to PKI’s market cap.

As you can see these stocks had an average of 23 hedge funds with bullish positions and the average amount invested in these stocks was $680 million. That figure was $476 million in PKI’s case. Forest City Enterprises, Inc. (NYSE:FCE) is the most popular stock in this table. On the other hand ITC Holdings Corp. (NYSE:ITC) is the least popular one with only 16 bullish hedge fund positions. PerkinElmer, Inc. (NYSE:PKI) is not the most popular stock in this group but hedge fund interest is still above average. This is a positive signal that makes the stock worth a closer look.