Do Hedge Funds Love Westmoreland Coal Company (WLB)?

As aggregate interest increased, specific money managers were breaking ground themselves. Cliff Asness’ AQR Capital Management initiated the most outsized position in Westmoreland Coal Company (NASDAQ:WLB). AQR Capital Management had $0.5 million invested in the company at the end of the quarter. Peter Muller’s PDT Partners also initiated a $0.3 million position during the quarter. The other funds with brand new WLB positions are Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital, Gregory Fraser, Rudolph Kluiber, and Timothy Krochuk’s GRT Capital Partners, and Paul Tudor Jones’s Tudor Investment Corp.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Westmoreland Coal Company (NASDAQ:WLB) but similarly valued. We will take a look at KEMET Corporation (NYSE:KEM), Dawson Geophysical Company (NASDAQ:DWSN), JTH Holding Inc (NASDAQ:TAX), and GlycoMimetics Inc (NASDAQ:GLYC). This group of stocks’ market valuations are closest to WLB’s market valuation.

As you can see these stocks had an average of 6 hedge funds with bullish positions and the average amount invested in these stocks was $23 million. That figure was $53 million in WLB’s case. KEMET Corporation (NYSE:KEM) is the most popular stock in this table. On the other hand GlycoMimetics Inc (NASDAQ:GLYC) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Westmoreland Coal Company (NASDAQ:WLB) 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