Is CommVault Systems, Inc. (CVLT) A Good Stock To Buy?

As one would reasonably expect, key money managers were breaking ground themselves. Citadel Investment Group, led by Ken Griffin, established the most outsized position in CommVault Systems, Inc. (NASDAQ:CVLT). Citadel Investment Group had $14.7 million invested in the company at the end of the quarter. Principal Global Investors’s Columbus Circle Investors also initiated a $14 million position during the quarter. The other funds with new positions in the stock are Dmitry Balyasny’s Balyasny Asset Management, Anand Parekh’s Alyeska Investment Group, and Cliff Asness’ AQR Capital Management.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as CommVault Systems, Inc. (NASDAQ:CVLT) but similarly valued. We will take a look at Penumbra Inc (NYSE:PEN), Liberty Media Corp (NASDAQ:LMCA), Liberty Media Corp (NASDAQ:LMCK), and AMAYA INC (NASDAQ:AYA). All of these stocks’ market caps are closest to CVLT’s market cap.

As you can see these stocks had an average of 21 funds with bullish positions and the average amount invested in these stocks was $452 million. That figure was $295 million in CVLT’s case. Liberty Media Corp (NASDAQ:LMCA) is the most popular stock in this table. On the other hand Penumbra Inc (NYSE:PEN) is the least popular one with only 17 bullish hedge fund positions. CommVault Systems, Inc. (NASDAQ:CVLT) 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 Liberty Media Corp (NASDAQ:LMCA) might be a better candidate to consider taking a long position in.

Disclosure: none