Is Broadridge Financial Solutions, Inc. (BR) Going to Burn These Hedge Funds?

As one would reasonably expect, specific money managers were breaking ground themselves. Renaissance Technologies created the largest position in Broadridge Financial Solutions, Inc. (NYSE:BR). Renaissance Technologies had $28.5 million invested in the company at the end of the quarter. Gotham Asset Management also initiated a $12.4 million position during the quarter. The following funds were also among the new BR investors: Matthew Tewksbury’s Stevens Capital Management, Andrew Feldstein and Stephen Siderow’s Blue Mountain Capital, and John Overdeck and David Siegel’s Two Sigma Advisors.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Broadridge Financial Solutions, Inc. (NYSE:BR) but similarly valued. These stocks are Camden Property Trust (NYSE:CPT), Alexandria Real Estate Equities Inc (NYSE:ARE), Tiffany & Co. (NYSE:TIF), and F5 Networks, Inc. (NASDAQ:FFIV). This group of stocks’ market caps match BR’s market cap.

As you can see these stocks had an average of 21 hedge funds with bullish positions and the average amount invested in these stocks was $383 million. That figure was $208 million in BR’s case. Tiffany & Co. (NYSE:TIF) is the most popular stock in this table. On the other hand Camden Property Trust (NYSE:CPT) is the least popular one with only 8 bullish hedge fund positions. Broadridge Financial Solutions, Inc. (NYSE:BR) 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 TIF might be a better candidate to consider a long position in.

Disclosure: None