Hedge Funds Are Betting On AmeriGas Partners, L.P. (APU)

With a general bullishness amongst the heavyweights, specific money managers have been driving this bullishness. Renaissance Technologies, led by Jim Simons, assembled the most valuable position in AmeriGas Partners, L.P. (NYSE:APU). Renaissance Technologies had $1.4 million invested in the company at the end of the quarter. Matthew Hulsizer’s PEAK6 Capital Management also made a $0.7 million investment in the stock during the quarter. The following funds were also among the new APU investors: Christopher C. Grisanti’s Grisanti Brown & Partners, Ken Griffin’s Citadel Investment Group, and George Hall’s Clinton Group.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as AmeriGas Partners, L.P. (NYSE:APU) but similarly valued. We will take a look at FNFV Group (NYSE:FNFV), Great Plains Energy Incorporated (NYSE:GXP), Lincoln Electric Holdings, Inc. (NASDAQ:LECO), and BlackBerry Ltd (NASDAQ:BBRY). This group of stocks’ market values match APU’s market value.

As you can see these stocks had an average of 23 hedge funds with bullish positions and the average amount invested in these stocks was $607 million. That figure was $6 million in APU’s case. Great Plains Energy Incorporated (NYSE:GXP) is the most popular stock in this table. On the other hand Lincoln Electric Holdings, Inc. (NASDAQ:LECO) is the least popular one with only 17 bullish hedge fund positions. Compared to these stocks AmeriGas Partners, L.P. (NYSE:APU) is even less popular than LECO. 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.

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