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Here is What Hedge Funds Think About PharMerica Corporation (PMC)

As industrywide interest jumped, some big names were breaking ground themselves. Fisher Asset Management, managed by Ken Fisher, assembled the biggest position in PharMerica Corporation (NYSE:PMC) with an estimated value of $3.2 million at the end of the quarter. Matthew Tewksbury’s Stevens Capital Management also made a $0.8 million investment in the stock during the quarter. The following funds were also among the new PMC investors: Peter Muller’s PDT Partners, David Costen Haley’s HBK Investments, and Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as PharMerica Corporation (NYSE:PMC) but similarly valued. We will take a look at Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW), HudBay Minerals Inc Ord Shs (NYSE:HBM), StoneMor Partners L.P. (NYSE:STON), and Finish Line Inc (NASDAQ:FINL). This group of stocks’ market values resemble PMC’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
AAWW 22 93520 -4
HBM 7 3215 -4
STON 5 4517 0
FINL 25 149288 2

As you can see these stocks had an average of 15 hedge funds with bullish positions and the average amount invested in these stocks was $63 million. In the case of PMC, that figure was $86 million, which is a good sign. Finish Line Inc (NASDAQ:FINL) is the most popular stock in this table, while StoneMor Partners L.P. (NYSE:STON) is the least popular one with only 5 bullish hedge fund positions. PharMerica Corporation (NYSE:PMC) is not the most popular stock in this group, but hedge fund interest is still above average. While this is a slightly positive signal, we’d rather spend our time researching stocks that hedge funds are piling on. In this regard FINL might be a better candidate to consider a long position.

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