Consequently, key money managers have jumped into CYS Investments Inc (NYSE:CYS) headfirst. Clough Capital Partners, led by Charles Clough, assembled the largest position in CYS Investments Inc (NYSE:CYS). According to its latest 13F filing, the fund had $8.8 million invested in the company at the end of the quarter. Dmitry Balyasny’s Balyasny Asset Management also made a $0.4 million investment in the stock during the quarter. The following funds were also among the new CYS investors: John Overdeck and David Siegel’s Two Sigma Advisors, Mike Vranos’s Ellington, and Matthew Tewksbury’s Stevens Capital Management.
Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as CYS Investments Inc (NYSE:CYS) but similarly valued. We will take a look at Celestica Inc. (USA) (NYSE:CLS), AlarmCom Hldg Inc (NASDAQ:ALRM), Bank of N.T. Butterfield & Son Ltd (NYSE:NTB), and American Axle & Manufact. Holdings, Inc. (NYSE:AXL). This group of stocks’ market valuations are closest to CYS’s market valuation.
|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 15 hedge funds with bullish positions and the average amount invested in these stocks was $112 million. That figure was $35 million in CYS’s case. American Axle & Manufact. Holdings, Inc. (NYSE:AXL) is the most popular stock in this table. On the other hand AlarmCom Hldg Inc (NASDAQ:ALRM) is the least popular one with only 8 bullish hedge fund positions. CYS Investments Inc (NYSE:CYS) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard AXL might be a better candidate to consider taking a long position in.