Hedge Funds Are Betting On Lifelock Inc (LOCK)

With a general bullishness amongst the heavyweights, some big names were breaking ground themselves. Arrowstreet Capital, managed by Peter Rathjens, Bruce Clarke and John Campbell, assembled the largest position in Lifelock Inc (NYSE:LOCK). According to its latest 13F filing, the fund had $10.1 million invested in the company at the end of the quarter. Guru Ramakrishnan’s Meru Capital also initiated a $5.7 million position during the quarter. The following funds were also among the new LOCK investors: Alex von Furstenberg and Mal Serure’s Arrow Capital Management, Steve Cohen’s Point72 Asset Management, and Robert I. Usdan and Wayne K. Goldstein’s Endicott Management.

Let’s check out hedge fund activity in other stocks similar to Lifelock Inc (NYSE:LOCK). We will take a look at HMS Holdings Corp. (NASDAQ:HMSY), Haemonetics Corporation (NYSE:HAE), Globe Specialty Metals, Inc. (NASDAQ:GSM), and Nelnet, Inc. (NYSE:NNI). This group of stocks’ market caps are closest to LOCK’s market cap.

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 $125 million. That figure was $343 million in LOCK’s case. HMS Holdings Corp. (NASDAQ:HMSY) is the most popular stock in this table. On the other hand Nelnet, Inc. (NYSE:NNI) is the least popular one with only 9 bullish hedge fund positions. Compared to these stocks Lifelock Inc (NYSE:LOCK) 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.

Disclosure: none.