Consequently, specific money managers were breaking ground themselves. Renaissance Technologies created the most outsized position in Clayton Williams Energy, Inc. (NASDAQ:CWEI). Renaissance Technologies had $8.7 million invested in the company at the end of the quarter. Brian C. Freckmann’s Lyon Street Capital also made a $2.9 million investment in the stock during the quarter. The following funds were also among the new CWEI investors: Phil Frohlich’s Prescott Group Capital Management, Ken Griffin’s Citadel Investment Group, and John D. Gillespie’s Prospector Partners.
Let’s go over hedge fund activity in other stocks similar to Clayton Williams Energy, Inc. (NASDAQ:CWEI). These stocks are NCI Building Systems, Inc. (NYSE:NCS), Stewart Information Services Corp (NYSE:STC), ACCO Brands Corporation (NYSE:ACCO), and Seacor Holdings, Inc. (NYSE:CKH). This group of stocks’ market caps resemble CWEI’s market cap.
|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 19 hedge funds with bullish positions and the average amount invested in these stocks was $175 million. That figure was $211 million in CWEI’s case. NCI Building Systems, Inc. (NYSE:NCS) is the most popular stock in this table. On the other hand Seacor Holdings, Inc. (NYSE:CKH) is the least popular one with only 12 bullish hedge fund positions. Clayton Williams Energy, Inc. (NASDAQ:CWEI) 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 NCS might be a better candidate to consider taking a long position in.