Hedge Funds Are Betting On Century Communities, Inc (CCS)

As aggregate interest increased, key money managers were leading the bulls’ herd. KeyPoint Capital Management, managed by Rod Hinze, created the most outsized position in Century Communities, Inc (NYSE:CCS). KeyPoint Capital Management had $2.4 million invested in the company at the end of the quarter. Peter Muller’s PDT Partners also initiated a $0.5 million position during the quarter. The following funds were also among the new CCS investors: Ken Griffin’s Citadel Investment Group, Richard Driehaus’ Driehaus Capital, and Jim Simons’ Renaissance Technologies.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Century Communities, Inc (NYSE:CCS) but similarly valued. These stocks are Patriot National Inc (NYSE:PN), Carrols Restaurant Group, Inc. (NASDAQ:TAST), Intrepid Potash, Inc. (NYSE:IPI), and Homeowners Choice Inc (NYSE:HCI). All of these stocks’ market caps resemble CCS’s market cap.

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $45 million, lower than the $79 million figure in CCS’s case. Carrols Restaurant Group, Inc. (NASDAQ:TAST) is the most popular stock in this table. On the other hand Patriot National Inc (NYSE:PN) is the least popular one with only 6 bullish hedge fund positions. Century Communities, Inc (NYSE:CCS) 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 TAST might be a better candidate to consider a long position.