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Is CDW Corp (CDW) A Good Stock To Buy?

With a general bullishness amongst the heavyweights, specific money managers were leading the bulls’ herd. LMR Partners, managed by Ben Levine, Andrew Manuel and Stefan Renold, created the largest position in CDW Corp (NASDAQ:CDW). LMR Partners had $4.3 million invested in the company at the end of the quarter. Jim Simons’ Renaissance Technologies also made a $3.4 million investment in the stock during the quarter. The other funds with new positions in the stock are Benjamin A. Smith’s Laurion Capital Management, Peter Muller’s PDT Partners, and Simon Sadler’s Segantii Capital.

Let’s now take a look at hedge fund activity in other stocks similar to CDW Corp (NASDAQ:CDW). We will take a look at Brixmor Property Group Inc (NYSE:BRX), Signature Bank (NASDAQ:SBNY), Vereit Inc (NYSE:VER), and Skechers USA Inc (NYSE:SKX). This group of stocks’ market caps are closest to CDW’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
BRX 9 95058 -5
SBNY 25 424027 -3
VER 44 1477635 0
SKX 36 599889 6

As you can see these stocks had an average of 28.5 hedge funds with bullish positions and the average amount invested in these stocks was $649 million. That figure was $511 million in CDW’s case. Vereit Inc (NYSE:VER) is the most popular stock in this table. On the other hand Brixmor Property Group Inc (NYSE:BRX) is the least popular one with only 9 bullish hedge fund positions. CDW Corp (NASDAQ:CDW) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard VER might be a better candidate to consider a long position.

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