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Here is What Hedge Funds Think About XPO Logistics Inc (XPO)

Consequently, key hedge funds have been driving this bullishness. Luminus Management, managed by Jonathan Barrett and Paul Segal, assembled the most valuable position in XPO Logistics Inc (NYSE:XPO). Luminus Management had $34.6 million invested in the company at the end of the quarter. Bart Baum’s Ionic Capital Management also initiated a $21.2 million position during the quarter. The other funds with brand new XPO positions are Mike Masters’ Masters Capital Management, George Soros’ Soros Fund Management, and Israel Englander’s Millennium Management.

Let’s check out hedge fund activity in other stocks similar to XPO Logistics Inc (NYSE:XPO). We will take a look at Convergys Corporation (NYSE:CVG), F.N.B. Corp (NYSE:FNB), Sunedison Inc (NYSE:SUNE), and Chemed Corporation (NYSE:CHE). This group of stocks’ market valuations are similar to XPO’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
CVG 20 147888 2
FNB 12 57118 3
SUNE 73 1056855 -20
CHE 14 190086 3

As you can see these stocks had an average of 30 hedge funds with bullish positions and the average amount invested in these stocks was $363 million, compared to $867 million in XPO’s case. Sunedison Inc (NYSE:SUNE) is the most popular stock in this table. On the other hand F.N.B. Corp (NYSE:FNB) is the least popular one with only 12 bullish hedge fund positions. XPO Logistics Inc (NYSE:XPO) 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 SUNE might be a better candidate to consider a long position.

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