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Here is What Hedge Funds Think About Axis Capital Holdings Limited (AXS)

As industrywide interest jumped, key money managers were breaking ground themselves. Arrowstreet Capital, managed by Peter Rathjens, Bruce Clarke and John Campbell, assembled the most valuable position in Axis Capital Holdings Limited (NYSE:AXS). Arrowstreet Capital had $12.4 million invested in the company at the end of the quarter. Steve Cohen’s Point72 Asset Management also made a $3.4 million investment in the stock during the quarter. The other funds with new positions in the stock are Dmitry Balyasny’s Balyasny Asset Management, Lawrence Sapanski’s Scoria Capital, and Chao Ku’s Nine Chapters Capital Management.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Axis Capital Holdings Limited (NYSE:AXS) but similarly valued. We will take a look at Pilgrim’s Pride Corporation (NASDAQ:PPC), Wynn Resorts, Limited (NASDAQ:WYNN), and Targa Resources Partners LP (NYSE:NGLS). This group of stocks’ market caps is closest to Axis Capital Holdings Limited (NYSE:AXS)’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
PPC 28 389732 -1
WYNN 34 1066706 -1
HCBK 33 705858 -1
NGLS 7 105006 -2

As you can see, these stocks had an average of 26 hedge funds with bullish positions and the average amount invested in these stocks was $567 million. That figure was $583 million in Axis Capital Holdings Limited (NYSE:AXS)’s case. Wynn Resorts, Limited (NASDAQ:WYNN) is the most popular stock in this table. On the other hand, Targa Resources Partners LP (NYSE:NGLS) is the least popular one with only 7 bullish hedge fund positions. Axis Capital Holdings Limited (NYSE:AXS) 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, Wynn Resorts, Limited (NASDAQ:WYNN) might be a better candidate to consider a long position.

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