Here is What Hedge Funds Think About SandRidge Energy Inc. (SD)

As aggregate interest increased, key money managers were leading the bulls’ herd. Renaissance Technologies, managed by Jim Simons, assembled the most outsized position in SandRidge Energy Inc. (NYSE:SD), having invested $2.8 million in the company by the end of the quarter. Sander Gerber’s Hudson Bay Capital Management also initiated a $0.3 million position during the quarter. The other funds with brand new SD positions are Jerome L. Simon’s Lonestar Capital Management, John Paulson’s Paulson & Co, and Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital.

Let’s go over hedge fund activity in other stocks similar to SandRidge Energy Inc. (NYSE:SD). We will take a look at Datalink Corporation (NASDAQ:DTLK), Silicon Graphics International Corp (NASDAQ:SGI), Bioamber Inc (NYSE:BIOA), and Southern National Banc. of Virginia, Inc (NASDAQ:SONA). All of these stocks’ market caps are closest to SD’s market cap.

As you can see these stocks had an average of 9 hedge funds with bullish positions and the average amount invested in these stocks was $15 million. That figure was $33 million in SD’s case. Datalink Corporation (NASDAQ:DTLK) is the most popular stock in this table. On the other hand Southern National Banc. of Virginia, Inc (NASDAQ:SONA) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks SandRidge Energy Inc. (NYSE:SD) is clearly more popular among hedge funds, and we consider it may be a good idea to analyze it in detail and potentially include it in your portfolio.