Hedge Funds Are Betting On FleetCor Technologies, Inc. (FLT)

Now, some big names have jumped into FleetCor Technologies, Inc. (NYSE:FLT) headfirst. Suvretta Capital Management, managed by Aaron Cowen, created the largest position in FleetCor Technologies, Inc. (NYSE:FLT). Suvretta Capital Management had $76.9 million invested in the company at the end of the quarter. John Osterweis’s Osterweis Capital Management also initiated a $46.2 million position during the quarter. The other funds with new positions in the stock are Andrew Immerman and Jeremy Schiffman’s Palestra Capital Management, Richard Barrera’s Roystone Capital Partners, and Paul Tudor Jones’s Tudor Investment Corp.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as FleetCor Technologies, Inc. (NYSE:FLT) but similarly valued. These stocks are Church & Dwight Co., Inc. (NYSE:CHD), Red Hat, Inc. (NYSE:RHT), Kimco Realty Corp (NYSE:KIM), and Newell Rubbermaid Inc. (NYSE:NWL). This group of stocks’ market values are similar to FLT’s market value.

As you can see these stocks had an average of 26 investors with bullish positions and the average amount invested in these stocks was $755 million. That figure was $4.38 billion in FLT’s case. Newell Rubbermaid Inc. (NYSE:NWL) is the most popular stock in this table. On the other hand Kimco Realty Corp (NYSE:KIM) is the least popular one with only 11 bullish hedge fund positions. Compared to these stocks FleetCor Technologies, Inc. (NYSE:FLT) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.