Here is What Hedge Funds Think About Metaldyne Performance Group Inc (MPG)

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Consequently, key hedge funds have jumped into Metaldyne Performance Group Inc (NYSE:MPG) headfirst. Zebra Capital Management, led by Roger Ibbotson, established the biggest position in Metaldyne Performance Group Inc (NYSE:MPG). According to regulatory filings, the fund had $0.5 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also initiated a $0.4 million position during the quarter. The other funds with new positions in the stock are Renaissance Technologies, one of the largest hedge funds in the world, Peter Muller’s PDT Partners, and Glenn Russell Dubin’s Highbridge Capital Management.

Let’s now take a look at hedge fund activity in other stocks similar to Metaldyne Performance Group Inc (NYSE:MPG). We will take a look at Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW), MBIA Inc. (NYSE:MBI), Tutor Perini Corp (NYSE:TPC), and CONE Midstream Partners LP (NYSE:CNNX). This group of stocks’ market caps resemble MPG’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
AAWW 11 98467 -4
MBI 20 214365 1
TPC 13 48902 1
CNNX 3 6327 -1

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $92 million. That figure was $79 million in MPG’s case. MBIA Inc. (NYSE:MBI) is the most popular stock in this table. On the other hand CONE Midstream Partners LP (NYSE:CNNX) is the least popular one with only 3 bullish hedge fund positions. Metaldyne Performance Group Inc (NYSE:MPG) 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 MBI might be a better candidate to consider taking a long position in.

Disclosure: none.

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