Hedge Funds Are Buying Apollo Global Management LLC (APO)

With a general bullishness amongst the heavyweights, some big names have jumped into Apollo Global Management LLC (NYSE:APO) headfirst. Mark Asset Management, managed by Morris Mark, initiated the largest position in Apollo Global Management LLC (NYSE:APO). Mark Asset Management had $2.8 million invested in the company at the end of the quarter. Robert Raiff’s Raiff Partners also made a $2.4 million investment in the stock during the quarter. The following funds were also among the new APO investors: Richard Driehaus’ Driehaus Capital, Ken Griffin’s Citadel Investment Group, and John Overdeck and David Siegel’s Two Sigma Advisors.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Apollo Global Management LLC (NYSE:APO) but similarly valued. These stocks are FMC Technologies, Inc. (NYSE:FTI), Tyler Technologies, Inc. (NYSE:TYL), Steel Dynamics, Inc. (NASDAQ:STLD), and Commscope Holding Company Inc (NASDAQ:COMM). This group of stocks’ market caps are closest to APO’s market cap.

As you can see these stocks had an average of 36 hedge funds with bullish positions and the average amount invested in these stocks was $1.20 billion. That figure was $273 million in APO’s case. Commscope Holding Company Inc (NASDAQ:COMM) is the most popular stock in this table. On the other hand Tyler Technologies, Inc. (NYSE:TYL) is the least popular one with only 19 bullish hedge fund positions. Apollo Global Management LLC (NYSE:APO) 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 COMM might be a better candidate to consider a long position.

Disclosure: None