As aggregate interest increased, key hedge funds were leading the bulls’ herd. Balyasny Asset Management, managed by Dmitry Balyasny, initiated the most valuable position in Delphi Automotive PLC (NYSE:DLPH). Balyasny Asset Management had $40.3 million invested in the company at the end of the quarter. Joel Greenblatt’s Gotham Asset Management also made a $23 million investment in the stock during the quarter. The other funds with new positions in the stock are Ken Griffin’s Citadel Investment Group, Solomon Kumin’s Folger Hill Asset Management, and Matthew Lindenbaum’s Basswood Capital.
Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Delphi Automotive PLC (NYSE:DLPH) but similarly valued. These stocks are Tenaris S.A. (ADR) (NYSE:TS), Continental Resources, Inc. (NYSE:CLR), Mead Johnson Nutrition CO (NYSE:MJN), and Marriott International Inc (NYSE:MAR). All of these stocks’ market caps match DLPH’s market cap.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see these stocks had an average of 33.75 hedge funds with bullish positions and the average amount invested in these stocks was $1.01 billion. That figure was $650 million in DLPH’s case. Marriott International Inc (NYSE:MAR) is the most popular stock in this table. On the other hand Tenaris S.A. (ADR) (NYSE:TS) is the least popular one with only 10 bullish hedge fund positions. Delphi Automotive PLC (NYSE:DLPH) 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 MAR might be a better candidate to consider a long position.