Hedge Funds Are Betting On Lithia Motors Inc (LAD)

Consequently, key hedge funds were leading the bulls’ herd. PEAK6 Capital Management, managed by Matthew Hulsizer, established the biggest call position in Lithia Motors Inc (NYSE:LAD). PEAK6 Capital Management had $4.5 million invested in the company at the end of the quarter. Josh Goldberg’s G2 Investment Partners Management also made a $2.2 million investment in the stock during the quarter. The other funds with new positions in the stock are Andrew Sandler’s Sandler Capital Management, Israel Englander’s Millennium Management, and Brad Dunkley and Blair Levinsky’s Waratah Capital Advisors.

Let’s now take a look at hedge fund activity in other stocks similar to Lithia Motors Inc (NYSE:LAD). We will take a look at BWX Technologies Inc (NYSE:BWXT), Jack in the Box Inc. (NASDAQ:JACK), Aspen Insurance Holdings Limited (NYSE:AHL), and Telecom Argentina S.A. (ADR) (NYSE:TEO). This group of stocks’ market valuations are similar to Lithia Motors Inc (NYSE:LAD)’s market valuation.

As you can see, these stocks had an average of 22 hedge funds with bullish positions and the average amount invested in these stocks was $239 million. That figure was $294 million in Lithia Motors Inc (NYSE:LAD)’s case. Jack in the Box Inc. (NASDAQ:JACK) is the most popular stock in this table. On the other hand, Telecom Argentina S.A. (ADR) (NYSE:TEO) is the least popular one with only 11 bullish hedge fund positions. Lithia Motors Inc (NYSE:LAD) is not the most popular stock in this group, but hedge fund interest is still above average. This is a slightly positive signal, but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard, Jack in the Box Inc. (NASDAQ:JACK) might be a better candidate to consider a long position.