Hedge Funds Are Buying CalAtlantic Group Inc (CAA)

Now, key hedge funds were leading the bulls’ herd. Long Pond Capital, led by John Khoury, initiated the biggest position in CalAtlantic Group Inc (NYSE:CAA). Long Pond Capital had $18.1 million invested in the company at the end of the quarter. Glenn Russell Dubin’s Highbridge Capital Management also made a $4.1 million investment in the stock during the quarter. The other funds with new positions in the stock are George Hall’s Clinton Group, Mike Vranos’ Ellington, and Matthew Tewksbury’s Stevens Capital Management.

Let’s also examine hedge fund activity in other stocks similar to CalAtlantic Group Inc (NYSE:CAA). These stocks are Columbia Sportswear Company (NASDAQ:COLM), Healthcare Realty Trust Inc (NYSE:HR), IDACORP Inc (NYSE:IDA), and Western Alliance Bancorporation (NYSE:WAL). This group of stocks’ market caps resemble CAA’s market cap.

As you can see these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $139 million. That figure was $630 million in CAA’s case. Western Alliance Bancorporation (NYSE:WAL) is the most popular stock in this table. On the other hand Healthcare Realty Trust Inc (NYSE:HR) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks CalAtlantic Group Inc (NYSE:CAA) 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