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.

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