Is CVR Energy, Inc. (CVI) A Good Stock To Buy?

As one would reasonably expect, specific money managers were breaking ground themselves. Marshall Wace LLP, managed by Paul Marshall and Ian Wace, established the most valuable position in CVR Energy, Inc. (NYSE:CVI). The fund had $5.2 million invested in the company at the end of the quarter. Michael Platt and William Reeves’s BlueCrest Capital Mgmt. also made a $1.5 million investment in the stock during the quarter. The following funds were also among the new CVI investors: Dmitry Balyasny’s Balyasny Asset Management, George Hall’s Clinton Group, and Peter Algert and Kevin Coldiron’s Algert Coldiron Investors.

Let’s check out hedge fund activity in other stocks similar to CVR Energy, Inc. (NYSE:CVI). We will take a look at Paramount Group Inc (NYSE:PGRE), Morningstar, Inc. (NASDAQ:MORN), Vermilion Energy Inc (NYSE:VET), and Equity Commonwealth (NYSE:EQC). This group of stocks’ market values are closest to CVI’s market value.

As you can see these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $311 million. That figure was $2.97 billion in CVI’s case. Equity Commonwealth (NYSE:EQC) is the most popular stock in this table. On the other hand Vermilion Energy Inc (NYSE:VET) is the least popular one with only 6 bullish hedge fund positions. While CVR Energy, Inc. (NYSE:CVI) is not the most popular stock in this group, hedge fund interest is still above average and the amount invested in this company is significantly larger. The presence of Carl Icahn among the major shareholders is also a very strong sign and we would recommend further research into CVI to establish whether it is a good candidate for a long position.