Hedge Funds Are Betting On Fifth Street Asset Management Inc (FSAM)

As aggregate interest increased, key hedge funds have jumped into Fifth Street Asset Management Inc (NASDAQ:FSAM) headfirst. Millennium Management, managed by Israel Englander, assembled the largest position in Fifth Street Asset Management Inc (NASDAQ:FSAM). Millennium Management had $0.1 million invested in the company at the end of the third quarter.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Fifth Street Asset Management Inc (NASDAQ:FSAM) but similarly valued. We will take a look at Columbus McKinnon Corp. (NASDAQ:CMCO), TubeMogul Inc (NASDAQ:TUBE), Ascent Capital Group Inc (NASDAQ:ASCMA), and Park-Ohio Holdings Corp. (NASDAQ:PKOH). All of these stocks’ market caps resemble FSAM’s market cap.

As you can see, these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $61 million. Columbus McKinnon Corp. (NASDAQ:CMCO) is the most popular stock in this table, while Park-Ohio Holdings Corp. (NASDAQ:PKOH) is the least popular one with only six hedge funds reporting stakes. Fifth Street also has only six funds, but these funds held $13 million worth of its shares at the end of September. This may be a signal that Fifth Street is not the best choice for your portfolio at the moment. Even though, hedge funds don’t always get it right, we believe that the best approach is to look into stocks that hedge funds are collectively bullish on, such as CMCO in this case.