With a general bullishness amongst the heavyweights, key hedge funds have been driving this bullishness. Iridian Asset Management assembled the biggest position in Las Vegas Sands Corp. (NYSE:LVS). The other funds with new positions in the stock are Ken Griffin’s Citadel Investment Group, Steve Cohen’s Point72 Asset Management, and Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital.
Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Las Vegas Sands Corp. (NYSE:LVS) but similarly valued. These stocks are Anthem Inc (NYSE:ANTM), American Electric Power Company, Inc. (NYSE:AEP), Carnival Corporation (NYSE:CCL), and Crown Castle International Corp. (NYSE:CCI). This group of stocks’ market caps resemble LVS’s market cap.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see these stocks had an average of 39 hedge funds with bullish positions and the average amount invested in these stocks was $1.65 billion. That figure was $660 million in LVS’s case. Anthem Inc (NYSE:ANTM) is the most popular stock in this table. On the other hand Carnival Corporation (NYSE:CCL) is the least popular one with only 27 bullish hedge fund positions. Las Vegas Sands Corp. (NYSE:LVS) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard ANTM might be a better candidate to consider a long position in.