Hedge Funds Are Betting On Kaiser Aluminum Corp. (KALU)

As one would reasonably expect, key hedge funds were breaking ground themselves. Pine River Capital Management, led by Brian Taylor, created the largest position in Kaiser Aluminum Corp. (NASDAQ:KALU). Pine River Capital Management had $0.7 million invested in the company at the end of the quarter. Matthew Tewksbury’s Stevens Capital Management also made a $0.6 million investment in the stock during the quarter. The only other fund with a new position in the stock is Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.

Let’s now take a look at hedge fund activity in other stocks similar to Kaiser Aluminum Corp. (NASDAQ:KALU). These stocks are Stag Industrial Inc (NYSE:STAG), West Corp (NASDAQ:WSTC), Cyberark Software Ltd (NASDAQ:CYBR), and Diebold Incorporated (NYSE:DBD). All of these stocks’ market caps resemble KALU’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
STAG 6 60320 0
WSTC 15 42460 2
CYBR 20 175177 -2
DBD 19 288057 4

As you can see these stocks had an average of 15 hedge funds with bullish positions and the average amount invested in these stocks was $142 million. That figure was $168 million in KALU’s case. Cyberark Software Ltd (NASDAQ:CYBR) is the most popular stock in this table. On the other hand Stag Industrial Inc (NYSE:STAG) is the least popular one with only 6 bullish hedge fund positions. Kaiser Aluminum Corp. (NASDAQ:KALU) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard CYBR might be a better candidate to consider taking a long position in.

Disclosure: None