Hedge Fund Sentiment Towards Leidos Holdings, Inc. (LDOS) Continues to Improve

As industry-wide interest jumped, key money managers were breaking ground themselves. Tourbillon Capital Partners created the most outsized position in Leidos Holdings, Inc. (NYSE:LDOS). Southpoint Capital Advisors also made a large new investment in the stock during the quarter. The following funds were also among the new LDOS investors: Pennant Capital Management, Senator Investment Group, and Martin D. Sass’ MD Sass.

Let’s check out hedge fund activity in other stocks similar to Leidos Holdings, Inc. (NYSE:LDOS). These stocks are ONE Gas Inc (NYSE:OGS), Endo Health Solutions Inc (NASDAQ:ENDP), First Niagara Financial Group Inc. (NASDAQ:FNFG), and American Capital Ltd. (NASDAQ:ACAS). All of these stocks’ market caps match LDOS’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
OGS 11 66906 -1
ENDP 32 797272 -4
FNFG 1 4 -23
ACAS 28 600404 -6

As you can see these stocks had an average of 18 hedge funds with bullish positions and the average amount invested in these stocks was $366 million. That figure was $644 million in LDOS’s case. Endo Health Solutions Inc (NASDAQ:ENDP) is the most popular stock in this table. On the other hand First Niagara Financial Group Inc. (NASDAQ:FNFG) is the least popular one with only 1 bullish hedge fund positions. Leidos Holdings, Inc. (NYSE:LDOS) 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 ENDP might be a better candidate to consider a long position in.

Disclosure: None