As aggregate interest increased, some big names have been driving this bullishness. Renaissance Technologies, managed by Jim Simons, established the most valuable position in Argo Group International Holdings, Ltd. (NASDAQ:AGII). Renaissance Technologies had $1.2 million invested in the company at the end of the quarter. Chao Ku’s Nine Chapters Capital Management also made a $0.7 million investment in the stock during the quarter. The following funds were also among the new AGII investors: Matthew Tewksbury’s Stevens Capital Management and Thomas Bailard’s Bailard Inc.
Let’s go over hedge fund activity in other stocks similar to Argo Group International Holdings, Ltd. (NASDAQ:AGII). These stocks are 21Vianet Group Inc (NASDAQ:VNET), Galapagos NV (ADR) (NASDAQ:GLPG), Commercial Metals Company (NYSE:CMC), and Universal Display Corporation (NASDAQ:OLED). This group of stocks’ market caps resemble AGII’s market cap.
|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 15 hedge funds with bullish positions and the average amount invested in these stocks was $158 million. That figure was $115 million in AGII’s case. Commercial Metals Company (NYSE:CMC) is the most popular stock in this table. On the other hand Galapagos NV (ADR) (NASDAQ:GLPG) is the least popular one with only 11 bullish hedge fund positions. Argo Group International Holdings, Ltd. (NASDAQ:AGII) is among the most popular stocks in this group, making it worthy of a closer look.