Hedge Funds Are Crazy About Mobileye NV (MBLY)

With a general bullishness amongst the heavyweights, some big names were breaking ground themselves. Arrowstreet Capital, led by Peter Rathjens, Bruce Clarke and John Campbell, created the most valuable position in Mobileye NV (NYSE:MBLY). According to its latest 13F filing, the fund had $20 million invested in the company at the end of the quarter. Malcolm Fairbairn’s Ascend Capital also made a $17.8 million investment in the stock during the quarter. The other funds with new positions in the stock are Ken Griffin’s Citadel Investment Group, Jim Simons’s Renaissance Technologies, and Ken Griffin’s Citadel Investment Group.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Mobileye NV (NYSE:MBLY) but similarly valued. These stocks are Cna Financial Corp (NYSE:CNA), Western Gas Equity Partners LP (NYSE:WGP), Varian Medical Systems, Inc. (NYSE:VAR), and Lennar Corporation (NYSE:LEN). All of these stocks’ market caps match MBLY’s market cap.

As you can see these stocks had an average of 23 hedge funds with bullish positions and the average amount invested in these stocks was $365 million. That figure was $465 million in MBLY’s case. Lennar Corporation (NYSE:LEN) is the most popular stock in this table. On the other hand Western Gas Equity Partners LP (NYSE:WGP) is the least popular one with only 9 bullish hedge fund positions. Mobileye NV (NYSE:MBLY) 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 LEN might be a better candidate to consider taking a long position in.

Disclosure: none.