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Hedge Funds Are Betting On AllianceBernstein Holding LP (AB)

As industrywide interest jumped, some big names have been driving this bullishness. Alpenglow Capital assembled the largest position in AllianceBernstein Holding LP (NYSE:AB) which had $5.1 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also made a $0.4 million investment in the stock during the quarter. The only other fund with a new position in the stock is Citadel Investment Group.

Let’s now take a look at hedge fund activity in other stocks similar to AllianceBernstein Holding LP (NYSE:AB). These stocks are Rexnord Corp (NYSE:RXN), Pampa Energia S.A. (ADR) (NYSE:PAM), BancorpSouth, Inc. (NYSE:BXS), and Cousins Properties Inc (NYSE:CUZ). This group of stocks’ market caps are closest to AB’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
RXN 16 191629 -3
PAM 17 284757 -1
BXS 13 179968 -1
CUZ 9 31877 -6

As you can see these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $172 million. That figure was $30 million in AB’s case. Pampa Energia S.A. (ADR) (NYSE:PAM) is the most popular stock in this table. On the other hand Cousins Properties Inc (NYSE:CUZ) is the least popular one with only 9 bullish hedge fund positions. Compared to these stocks AllianceBernstein Holding LP (NYSE:AB) is even less popular than CUZ. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.

Disclosure: None

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