Hedge Fund Ownership of Glaukos Corp (GKOS) Triples in 3 Quarters: Are You Missing Out?

With general bullishness amongst the heavyweights, specific money managers were breaking ground themselves. HBK Investments, managed by David Costen Haley, created the most outsized position in Glaukos Corp (NYSE:GKOS). HBK Investments had $3.5 million invested in the company at the end of the quarter. Drew Cupps’ Cupps Capital Management also initiated a $2.5 million position during the quarter. The other funds with new positions in the stock are Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, Justin John Ferayorni’s Tamarack Capital Management, and Paul Tudor Jones’ Tudor Investment Corp.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Glaukos Corp (NYSE:GKOS) but similarly valued. We will take a look at Orion Engineered Carbons SA (NYSE:OEC), Employers Holdings, Inc. (NYSE:EIG), BancFirst Corporation (NASDAQ:BANF), and MBIA Inc. (NYSE:MBI). All of these stocks’ market caps are similar to GKOS’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
OEC 12 121102 -1
EIG 10 39100 -2
BANF 8 14036 2
MBI 20 214365 1

As you can see these stocks had an average of 12.5 hedge funds with bullish positions and the average amount invested in these stocks was $97 million. That figure was $175 million in GKOS’ case. MBIA Inc. (NYSE:MBI) is the most popular stock in this table. On the other hand BancFirst Corporation (NASDAQ:BANF) is the least popular one with only 8 bullish hedge fund positions. Glaukos Corp (NYSE:GKOS) is not the most popular stock in this group but hedge fund interest is still above average and growing rapidly. This is a positive signal, as we’d rather spend our time researching stocks that hedge funds are piling on. In this regard GKOS might be a prime candidate to consider a long position in.

Disclosure: None