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|
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.