Hedge Funds Are Crazy About Altisource Portfolio Solutions S.A. (ASPS)

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With a general bullishness amongst the heavyweights, specific money managers were leading the bulls’ herd. Highbridge Capital Management, led by Glenn Russell Dubin, created the largest position in Altisource Portfolio Solutions S.A. (NASDAQ:ASPS). According to regulatory filings, the fund had $2.5 million invested in the company at the end of the quarter. Lee Ainslie’s Maverick Capital also initiated a $1.1 million position during the quarter. The other funds with new positions in the stock are Ken Griffin’s Citadel Investment Group, Warren Lammert’s Granite Point Capital, and John Overdeck and David Siegel’s Two Sigma Advisors.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) but similarly valued. These stocks are Mechel OAO (ADR) (NYSE:MTL), H&E Equipment Services, Inc. (NASDAQ:HEES), Altisource Residential Corp (NYSE:RESI), and Applied Micro Circuits Corporation (NASDAQ:AMCC). All of these stocks’ market caps match ASPS’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
MTL 3 1299 0
HEES 14 30917 3
RESI 13 56390 7
AMCC 15 94512 1

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $46 million. That figure was $102 million in ASPS’s case. Applied Micro Circuits Corporation (NASDAQ:AMCC) is the most popular stock in this table. On the other hand Mechel OAO (ADR) (NYSE:MTL) is the least popular one with only 3 bullish hedge fund positions. Compared to these stocks Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) 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.

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