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Hedge Funds Are Buying Jarden Corp (JAH)

As one would reasonably expect, key money managers have jumped into Jarden Corp (NYSE:JAH) headfirst. Scopus Asset Management, managed by Alexander Mitchell, created the largest position in Jarden Corp (NYSE:JAH). Scopus Asset Management had $41.5 million invested in the company at the end of the quarter. Ben Gambill’s Tiger Eye Capital also made a $21.2 million investment in the stock during the quarter. The following funds were also among the new Jarden Corp (NYSE:JAH) investors: Clifford Fox’s Columbus Circle Investors, James Dondero’s Highland Capital Management, and Min Htoo and Jordan Teramo’s Anandar Capital Management.

Let’s check out hedge fund activity in other stocks similar to Jarden Corp (NYSE:JAH). We will take a look at Ameren Corp (NYSE:AEE), Alcatel Lucent SA (ADR) (NYSE:ALU), Martin Marietta Materials, Inc. (NYSE:MLM), and Banco de Chile (ADR) (NYSE:BCH). This group of stocks’ market caps is closest to Jarden Corp (NYSE:JAH)’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
AEE 18 459329 0
ALU 11 100794 1
MLM 47 1886971 2
BCH 4 28046 -1

As you can see, these stocks had an average of 20 hedge funds with bullish positions and the average amount invested in these stocks was $619 million. That figure was $1.46 billion in Jarden Corp (NYSE:JAH)’s case. Martin Marietta Materials, Inc. (NYSE:MLM) is the most popular stock in this table. On the other hand, Banco de Chile (ADR) (NYSE:BCH) is the least popular one with only 4 bullish hedge fund positions. Jarden Corp (NYSE:JAH) 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, Martin Marietta Materials, Inc. (NYSE:MLM) might be a better candidate to consider a long position.

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