Hedge Funds Are Buying Huron Consulting Group (HURN)

As one would reasonably expect, key money managers were leading the bulls’ herd. Highbridge Capital Management created the most outsized position in Huron Consulting Group (NASDAQ:HURN). The fund had $6.5 million invested in the company at the end of the quarter. Israel Englander’s Millennium Management also initiated a $4.6 million position during the quarter. The other funds with brand new HURN positions are D. E. Shaw’s D E Shaw, Neil Chriss’ Hutchin Hill Capital, and Chao Ku’s Nine Chapters Capital Management.

Let’s also examine hedge fund activity in other stocks similar to Huron Consulting Group (NASDAQ:HURN). We will take a look at Pattern Energy Group Inc (NASDAQ:PEGI), Ladder Capital Corp (NYSE:LADR), Houlihan Lokey Inc (NYSE:HLI), and Jumei International Holding Ltd (ADR) (NYSE:JMEI). This group of stocks’ market values are closest to HURN’s market value.

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $89 million. That figure was $68 million in HURN’s case. Coincidentally, all four stocks from this group had 13 long hedge fund positions at the end of the quarter, but they were no match for Huron Consulting Group (NASDAQ:HURN) with 16 positions. 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.