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Hedge Funds Are Buying Tupperware Brands Corporation (TUP)

Now, specific money managers were leading the bulls’ herd. Jeffrey Bronchick’ Cove Street Capital created the most outsized position in Tupperware Brands Corporation (NYSE:TUP). Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital also made a $9.9 million investment in the stock during the quarter. The other funds with new positions in the stock are Jim Simons’s Renaissance Technologies, Israel Englander’s Millennium Management, and Ken Griffin’s Citadel Investment Group.

Let’s also examine hedge fund activity in other stocks similar to Tupperware Brands Corporation (NYSE:TUP). These stocks are LifePoint Hospitals, Inc. (NASDAQ:LPNT), Sinclair Broadcast Group, Inc. (NASDAQ:SBGI), Nabors Industries Ltd. (NYSE:NBR), and Avista Corp (NYSE:AVA). This group of stocks’ market values are similar to TUP’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
LPNT 16 192333 -6
SBGI 32 346772 -1
NBR 30 422646 4
AVA 9 56026 -3

As you can see these stocks had an average of 22 hedge funds with bullish positions and the average amount invested in these stocks was $254 million. That figure was $196 million in TUP’s case. Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) is the most popular stock in this table. On the other hand Avista Corp (NYSE:AVA) is the least popular one with only 9 bullish hedge fund positions. Tupperware Brands Corporation (NYSE:TUP) 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 SBGI might be a better candidate to consider a long position.

Disclsoure: none.

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