First Data Corp (FDC): Hedge Funds Can’t Get Enough

With general bullishness amongst the heavyweights, key hedge funds were leading the bulls’ herd. Moore Global Investments, led by Louis Bacon, established the largest position in First Data Corp (NYSE:FDC). Moore Global Investments had $7.9 million invested in the company at the end of the quarter. Ben Levine, Andrew Manuel and Stefan Renold’s LMR Partners also made a $3.6 million investment in the stock during the quarter. The other funds with brand new FDC positions are Jim Simons’ Renaissance Technologies, Larry Foley and Paul Farrell’s Bronson Point Partners, and Benjamin A. Smith’s Laurion Capital Management.

Let’s now take a look at hedge fund activity in other stocks similar to First Data Corp (NYSE:FDC). These stocks are Cenovus Energy Inc (USA) (NYSE:CVE), Pembina Pipeline Corp (NYSE:PBA), Ameren Corp (NYSE:AEE), and Grupo Financero Sntdr Mxco SAB de CV ADR (NYSE:BSMX). This group of stocks’ market caps are similar to FDC’s market cap.

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $217 million. That figure was $661 million in FDC’s case. Cenovus Energy Inc (USA) (NYSE:CVE) is the most popular stock in this table. On the other hand Grupo Financero Sntdr Mxco SAB de CV ADR (NYSE:BSMX) is the least popular one with only 9 bullish hedge fund positions. Compared to these stocks First Data Corp (NYSE:FDC) 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