Hedge Funds Are Betting On Synopsys, Inc. (SNPS)

Consequently, key money managers have jumped into Synopsys, Inc. (NASDAQ:SNPS) headfirst. Arrowstreet Capital, managed by Peter Rathjens, Bruce Clarke and John Campbell, created the largest position in Synopsys, Inc. (NASDAQ:SNPS). According to regulatory filings, the fund had $22.3 million invested in the company at the end of the quarter. John Overdeck and David Siegel’s Two Sigma Advisors also initiated a $8.1 million position during the quarter. The other funds with new positions in the stock are David Costen Haley’s HBK Investments, Alec Litowitz and Ross Laser’s Magnetar Capital, and Matthew Tewksbury’s Stevens Capital Management.

Let’s now take a look at hedge fund activity in other stocks similar to Synopsys, Inc. (NASDAQ:SNPS). These stocks are Harley-Davidson, Inc. (NYSE:HOG), Regency Centers Corp (NYSE:REG), Coca-Cola Enterprises Inc (NYSE:CCE), and Aramark (NYSE:ARMK). This group of stocks’ market values resemble SNPS’s market value.

As you can see these stocks had an average of 24 hedge funds with bullish positions and the average amount invested in these stocks was $689 million. That figure was $417 million in SNPS’s case. Coca-Cola Enterprises Inc (NYSE:CCE) is the most popular stock in this table. On the other hand Regency Centers Corp (NYSE:REG) is the least popular one with only 11 bullish hedge fund positions. Synopsys, Inc. (NASDAQ:SNPS) 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 CCE might be a better candidate to consider a long position.

Disclosure: none.