Consequently, key money managers were breaking ground themselves. Blue Ridge Capital established the most outsized position in IHS Markit Ltd (NASDAQ:INFO). Select Equity Group also made a $139.7 million investment in the stock during the quarter. The following funds were also among the new INFO investors: James Crichton’s Hitchwood Capital Management, David Thomas’ Atalan Capital, and Clint Carlson’s Carlson Capital.
Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as IHS Markit Ltd (NASDAQ:INFO) but similarly valued. These stocks are Arthur J. Gallagher & Co. (NYSE:AJG), Tractor Supply Company (NASDAQ:TSCO), Nordstrom, Inc. (NYSE:JWN), and Synopsys, Inc. (NASDAQ:SNPS). This group of stocks’ market valuations match INFO’s market valuation.
|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 22 hedge funds with bullish positions and the average amount invested in these stocks was $315 million. That figure was $1.38 billion in INFO’s case. Nordstrom, Inc. (NYSE:JWN) is the most popular stock in this table. On the other hand Arthur J. Gallagher & Co. (NYSE:AJG) is the least popular one with only 12 bullish hedge fund positions. IHS Markit Ltd (NASDAQ:INFO) is tied as the most popular stock in this group and has a lot more money invested in it than any of the other stocks. This is a positive signal, as we’d rather spend our time researching stocks that hedge funds are pouring money into and piling into recently. In this regard INFO might be a good candidate to consider taking a long position in.