How Care Capital Properties Inc (CCP) Stacks Up Against Its Peers

As aggregate interest increased, key hedge funds have jumped into Care Capital Properties Inc (NYSE:CCP) headfirst. Alyeska Investment Group, led by Anand Parekh, assembled the biggest position in Care Capital Properties Inc (NYSE:CCP). Alyeska Investment Group had $4.9 million invested in the company at the end of the quarter. Dmitry Balyasny’s Balyasny Asset Management also initiated a $1.2 million position during the quarter. The other funds with brand new CCP positions are David Harding’s Winton Capital Management and Michael Platt and William Reeves’s BlueCrest Capital Mgmt..

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Care Capital Properties Inc (NYSE:CCP) but similarly valued. These stocks are Virgin America Inc (NASDAQ:VA), Generac Holdings Inc. (NYSE:GNRC), Retail Opportunity Investments Corp (NASDAQ:ROIC), and Weibo Corp (ADR) (NASDAQ:WB). This group of stocks’ market valuations are closest to CCP’s market valuation.

As you can see these stocks had an average of 19.5 hedge funds with bullish positions and the average amount invested in these stocks was $317 million. That figure was $44 million in CCP’s case. Weibo Corp (ADR) (NASDAQ:WB) is the most popular stock in this table. On the other hand Retail Opportunity Investments Corp (NASDAQ:ROIC) is the least popular one with only 8 bullish hedge fund positions. Care Capital Properties Inc (NYSE:CCP) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard WB might be a better candidate to consider taking a long position in.

Disclosure: none