Hedge Funds Are Suddenly Buying Global Brass and Copper Holdings Inc (BRSS) Again

As one would reasonably expect, key money managers were leading the bulls’ herd. Royce & Associates, led by Chuck Royce, created the most valuable position in Global Brass and Copper Holdings Inc (NYSE:BRSS). Royce & Associates had $3.4 million invested in the company at the end of the quarter. Paul Marshall and Ian Wace’s Marshall Wace LLP also made a $3.1 million investment in the stock during the quarter. The other funds with brand new BRSS positions are Neil Chriss’ Hutchin Hill Capital, Matthew Hulsizer’s PEAK6 Capital Management, and Mike Vranos’ Ellington.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Global Brass and Copper Holdings Inc (NYSE:BRSS) but similarly valued. We will take a look at Agenus Inc (NASDAQ:AGEN), Lakeland Bancorp, Inc. (NASDAQ:LBAI), Newpark Resources Inc (NYSE:NR), and HomeStreet Inc (NASDAQ:HMST). All of these stocks’ market caps resemble BRSS’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
AGEN 12 95788 1
LBAI 8 17028 1
NR 12 43835 -3
HMST 11 15773 0

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 $43 million. That figure was $64 million in BRSS’s case. Agenus Inc (NASDAQ:AGEN) is the most popular stock in this table. On the other hand Lakeland Bancorp, Inc. (NASDAQ:LBAI) is the least popular one with only 8 bullish hedge fund positions. Compared to these stocks Global Brass and Copper Holdings Inc (NYSE:BRSS) 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