Is Kindred Healthcare, Inc. (KND) A Good Stock To Buy?

As industrywide interest jumped, specific money managers were leading the bulls’ herd. Citadel Investment Group, led by Ken Griffin, assembled the most outsized position in Kindred Healthcare, Inc. (NYSE:KND). Citadel Investment Group had $2.5 million invested in the company at the end of the quarter. Neil Chriss’ Hutchin Hill Capital also initiated a $1.5 million position during the quarter. The following funds were also among the new KND investors: Mike Vranos’ Ellington and Matthew Tewksbury’s Stevens Capital Management.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Kindred Healthcare, Inc. (NYSE:KND) but similarly valued. We will take a look at Pengrowth Energy Corp (USA) (NYSE:PGH), Invesco Dynamic Credit Opportunities Fd (NYSE:VTA), Urstadt Biddle Properties Inc (NYSE:UBA), and Banc of California Inc (NYSE:BANC). This group of stocks’ market values resemble KND’s market value.

As you can see these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $31 million, which is lower than the $153 million figure in KND’s case. Banc of California Inc (NYSE:BANC) is the most popular stock in this table. On the other hand Invesco Dynamic Credit Opportunities Fd (NYSE:VTA) is the least popular one with only four funds holding shares. Kindred Healthcare, Inc. (NYSE:KND) 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 Banc of California Inc (NYSE:BANC) might be a better candidate to consider taking a long position in.

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Disclosure: None