Hedge Funds Are Crazy About Stericycle Inc (SRCL)

Consequently, key hedge funds have been driving this bullishness. Blue Mountain Capital made a $33 million investment in the stock during the quarter. The other funds with new positions in the stock are OZ Management, Jacob Gottlieb’s Visium Asset Management, and D E Shaw.

Let’s also examine hedge fund activity in other stocks similar to Stericycle Inc (NASDAQ:SRCL). We will take a look at Cameron International Corporation (NYSE:CAM), Entergy Corporation (NYSE:ETR), Noble Energy, Inc. (NYSE:NBL), and Hanesbrands Inc. (NYSE:HBI). This group of stocks’ market values is similar to Stericycle Inc (NASDAQ:SRCL)’s market value.

As you can see, these stocks had an average of 39 hedge funds with bullish positions and the average amount invested in these stocks was $1.36 billion. That figure was $413 million in Stericycle Inc (NASDAQ:SRCL)’s case. Cameron International Corporation (NYSE:CAM) is the most popular stock in this table. On the other hand, Entergy Corporation (NYSE:ETR) is the least popular one with only 29 bullish hedge fund positions. Stericycle Inc (NASDAQ:SRCL) 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, Cameron International Corporation (NYSE:CAM) might be a better candidate to consider a long position.