Is Koppers Holdings Inc. (KOP) Worthy of Your Portfolio?

Consequently, specific money managers have been driving this bullishness. Gotham Asset Management, led by Joel Greenblatt, initiated the biggest position in Koppers Holdings Inc. (NYSE:KOP). Gotham Asset Management had $0.8 million invested in the company at the end of the quarter. Matthew Tewksbury’s Stevens Capital Management also initiated a $0.4 million position during the quarter. The only other fund with a brand new KOP position is Robert B. Gillam’s McKinley Capital Management.

Let’s check out hedge fund activity in other stocks similar to Koppers Holdings Inc. (NYSE:KOP). We will take a look at Novadaq Technologies Inc. (NASDAQ:NVDQ), Eldorado Resorts Inc (NASDAQ:ERI), Northstar Realty Europe Corp (NYSE:NRE), and New York Mortgage Trust, Inc. (NASDAQ:NYMT). This group of stocks’ market values are similar to KOP’s market value.

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $111 million. That figure was $59 million in KOP’s case. Eldorado Resorts Inc (NASDAQ:ERI) is the most popular stock in this table. On the other hand New York Mortgage Trust, Inc. (NASDAQ:NYMT) is the least popular one with only 3 bullish hedge fund positions. Koppers Holdings Inc. (NYSE:KOP) 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 ERI might be a better candidate to consider taking a long position in.

Disclosure: None