Consequently, key hedge funds have been driving this bullishness. John Labanowski’s Brenham Capital Management, established the most outsized position in Rice Energy Inc (NYSE:RICE). Brenham Capital Management had $60.1 million invested in the company at the end of the quarter. Jim Simons’ Renaissance Technologies also initiated a $24.5 million position during the quarter. The other funds with new positions in the stock are Robert Pohly’s Samlyn Capital, Alec Litowitz and Ross Laser’s Magnetar Capital, and Leon Cooperman’s Omega Advisors.
Let’s now review hedge fund activity in other stocks similar to Rice Energy Inc (NYSE:RICE). We will take a look at NCR Corporation (NYSE:NCR), WEX Inc (NYSE:WEX), Corelogic Inc (NYSE:CLGX), and Cabelas Inc (NYSE:CAB). This group of stocks’ market caps match RICE’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 23 funds with bullish positions and the average amount invested in these stocks was $441 million. That figure was $1.22 billion in RICE’s case. Cabelas Inc (NYSE:CAB) is the most popular stock in this table, while WEX Inc (NYSE:WEX) is the least popular one with only 10 bullish hedge fund positions. Compared to these stocks, Rice Energy Inc (NYSE:RICE) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.