How Old Republic International Corporation (ORI) Stacks Up Against Its Peers

Consequently, key hedge funds were leading the bulls’ herd. HBK Investments, managed by David Costen Haley, established the most valuable position in Old Republic International Corporation (NYSE:ORI). According to its latest 13F filing, the fund had $2.6 million invested in the company at the end of the quarter. Glenn Russell Dubin’s Highbridge Capital Management also initiated a $1.8 million position during the quarter. The other funds with brand new ORI positions are Alec Litowitz and Ross Laser’s Magnetar Capital and Benjamin A. Smith’s Laurion Capital Management.

Let’s go over hedge fund activity in other stocks similar to Old Republic International Corporation (NYSE:ORI). These stocks are Voya Financial Inc (NYSE:VOYA), Tegna Inc (NYSE:TGNA), Old Dominion Freight Line (NASDAQ:ODFL), and Gaming and Leisure Properties Inc (NASDAQ:GLPI). This group of stocks’ market valuations match ORI’s market valuation.

As you can see these stocks had an average of 27 hedge funds with bullish positions and the average amount invested in these stocks was $656 million. That figure was $234 million in ORI’s case. Voya Financial Inc (NYSE:VOYA) is the most popular stock in this table. On the other hand Old Dominion Freight Line (NASDAQ:ODFL) is the least popular one with only 14 bullish hedge fund positions. Old Republic International Corporation (NYSE:ORI) 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 VOYA might be a better candidate to consider a long position.

Disclosure: none.