Energizer Holdings, Inc. (ENR) Powering Up on Purchase of HandStands Holding Corporation

With general bullishness amongst the heavyweights, some big names have jumped into Energizer Holdings, Inc. (NYSE:ENR) headfirst. Vernier Capital assembled the largest position in Energizer Holdings, Inc. (NYSE:ENR). Vernier Capital had $11.2 million invested in the company at the end of the quarter. Glenn Russell Dubin’s Highbridge Capital Management also initiated a $9.6 million position during the quarter. The following funds were also among the new ENR investors: John Overdeck and David Siegel’s Two Sigma Advisors, Michael Platt and William Reeves’ BlueCrest Capital Mgmt, and Cliff Asness’ AQR Capital Management.

Let’s also examine hedge fund activity in other stocks similar to Energizer Holdings, Inc. (NYSE:ENR). These stocks are Allscripts Healthcare Solutions Inc (NASDAQ:MDRX), QEP Resources Inc (NYSE:QEP), Integra Lifesciences Holdings Corp (NASDAQ:IART), and Corporate Office Properties Trust (NYSE:OFC). This group of stocks’ market caps are closest to ENR’s market cap.

As you can see these stocks had an average of 21 hedge funds with bullish positions and the average amount invested in these stocks was $318 million. That figure was $238 million in ENR’s case. QEP Resources Inc (NYSE:QEP) is the most popular stock in this table. On the other hand Corporate Office Properties Trust (NYSE:OFC) is the least popular one with only 13 bullish hedge fund positions. Energizer Holdings, Inc. (NYSE:ENR) 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 QEP might be a better candidate to consider a long position.

Disclosure: None