Huge Year Continues For Callon Petroleum Company (CPE) And Investors Are Taking Note

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As aggregate interest increased, key money managers have been driving this bullishness. AlphaOne Capital Partners, managed by Paul Hondros, assembled the biggest position in Callon Petroleum Company (NYSE:CPE). AlphaOne Capital Partners had $1.8 million invested in the company at the end of the quarter. Sander Gerber’s Hudson Bay Capital Management also initiated a $1.6 million position during the quarter. The following funds were also among the new Callon Petroleum Company (NYSE:CPE) investors: Israel Englander’s Millennium Management, Paul Marshall and Ian Wace’s Marshall Wace LLP, and Matthew Hulsizer’s PEAK6 Capital Management.

Let’s now review hedge fund activity in other stocks similar to Callon Petroleum Company (NYSE:CPE). We will take a look at E Commerce China Dangdang Inc (ADR) (NYSE:DANG), EPIQ Systems, Inc. (NASDAQ:EPIQ), Boot Barn Holdings Inc (NYSE:BOOT), and Hanger Inc (NYSE:HGR). All of these stocks’ market caps are similar to Callon Petroleum Company (NYSE:CPE)’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
DANG 8 19471 -6
EPIQ 14 86375 -1
BOOT 7 31754 -4
HGR 11 25553 2

As you can see these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $41 million. That figure was $36 million in Callon Petroleum Company (NYSE:CPE)’s case. EPIQ Systems, Inc. (NASDAQ:EPIQ) is the most popular stock in this table. On the other hand Boot Barn Holdings Inc (NYSE:BOOT) is the least popular one with only 7 bullish hedge fund positions. Compared to these stocks Callon Petroleum Company (NYSE:CPE) is more popular among hedge funds and sentiment is rising fast. 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.

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