Have Hedge Funds Found A Big Winner in Express, Inc. (EXPR)?

Now, specific money managers were breaking ground themselves. Melvin Capital Management, run by Gabriel Plotkin, established the largest call options position in Express, Inc. (NYSE:EXPR). The fund reportedly had $10.6 million invested in the position at the end of the third quarter. Steven Tananbaum’s GoldenTree Asset Management also made a $6.8 million investment in the stock during the quarter. The other funds with new positions in the stock are Marc Majzner’s Clearline Capital, Neil Chriss’ Hutchin Hill Capital, and Sheetal Duggal’s Thrax Management.

Let’s now review hedge fund activity in other stocks similar to Express, Inc. (NYSE:EXPR). These stocks are Seres Therapeutics Inc (NASDAQ:MCRB), Spartan Stores, Inc. (NASDAQ:SPTN), CVR Refining LP (NYSE:CVRR), and Cynosure, Inc. (NASDAQ:CYNO). This group of stocks’ market valuations resemble EXPR’s market valuation.

As you can see these stocks had an average of 15 hedge funds with bullish positions and the average amount invested in these stocks was $75 million. That figure was $163 million in EXPR’s case. Cynosure, Inc. (NASDAQ:CYNO) is the most popular stock in this table. On the other hand CVR Refining LP (NYSE:CVRR) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks Express, Inc. (NYSE:EXPR) 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