Is It Time To Hitch A Ride On Shares of Harley-Davidson Inc (HOG)?

With a general bullishness amongst the heavyweights, specific money managers were breaking ground themselves. Citadel Investment Group, managed by Ken Griffin, established the most outsized call options position in Harley-Davidson Inc (NYSE:HOG). The fund reportedly had $13.2 million invested in HOG call options at the end of the third quarter. Solomon Kumin’s Folger Hill Asset Management also made a $10.5 million investment in call options during the quarter. The other funds with brand new HOG positions are Alexander Mitchell’s Scopus Asset Management, Anand Parekh’s Alyeska Investment Group, and Bruce Kovner’s Caxton Associates LP.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Harley-Davidson Inc (NYSE:HOG) but similarly valued. We will take a look at Regency Centers Corp (NYSE:REG), Coca-Cola Enterprises Inc (NYSE:CCE), Aramark (NYSE:ARMK), and Turkcell Iletisim Hizmetleri A.S. (ADR) (NYSE:TKC). All of these stocks’ market caps match HOG’s market cap.

As you can see these stocks had an average of 19 hedge funds with bullish positions and the average amount invested in these stocks was $559 million. That figure was $522 million in HOG’s case. Coca-Cola Enterprises Inc (NYSE:CCE) is the most popular stock in this table. On the other hand Turkcell Iletisim Hizmetleri A.S. (ADR) (NYSE:TKC) is the least popular one with only 5 bullish hedge fund positions. Harley-Davidson Inc (NYSE:HOG) 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 the most hedge funds are bullish on. In this regard CCE might be a better candidate to consider a long position in.

Disclosure: None