Infinera Corp. (INFN): Are Hedge Funds Right About This Stock?

With a general bullishness amongst the heavyweights, key hedge funds have jumped into Infinera Corp. (NASDAQ:INFN) headfirst. Alyeska Investment Group, managed by Anand Parekh, initiated the most outsized position in Infinera Corp. (NASDAQ:INFN). Alyeska Investment Group had $4.8 million invested in the company at the end of the quarter. John Overdeck and David Siegel’s Two Sigma Advisors also made a $4.3 million investment in the stock during the quarter. The following funds were also among the new INFN investors: Peter Muller’s PDT Partners, Neil Chriss’ Hutchin Hill Capital, and Paul Marshall and Ian Wace’s Marshall Wace LLP.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Infinera Corp. (NASDAQ:INFN) but similarly valued. We will take a look at Clean Harbors Inc (NYSE:CLH), World Fuel Services Corporation (NYSE:INT), Myriad Genetics, Inc. (NASDAQ:MYGN), and TCF Financial Corporation (NYSE:TCB). All of these stocks’ market caps are closest to INFN’s market cap.

As you can see these stocks had an average of 21.5 hedge funds with bullish positions and the average amount invested in these stocks was $334 million. That figure was $259 million in INFN’s case. Clean Harbors Inc (NYSE:CLH) is the most popular stock in this table. On the other hand Myriad Genetics, Inc. (NASDAQ:MYGN) is the least popular one with only 21 bullish hedge fund positions. Compared to these stocks Infinera Corp. (NASDAQ:INFN) 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.