As one would reasonably expect, specific money managers have jumped into Nabors Industries Ltd. (NYSE:NBR) headfirst. Graham Capital Management initiated the most valuable position in Nabors Industries Ltd. (NYSE:NBR). The fund reportedly had $27.3 million invested in the company at the end of the quarter. Robert Polak’s Anchor Bolt Capital also made a $17.7 million investment in the stock during the quarter. The other funds with brand new NBR positions are D E Shaw, Ken Griffin’s Citadel Investment Group, and Paul Tudor Jones’ Tudor Investment Corp.
Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Nabors Industries Ltd. (NYSE:NBR) but similarly valued. These stocks are Avista Corp (NYSE:AVA), China Biologic Products Inc (NASDAQ:CBPO), Molina Healthcare, Inc. (NYSE:MOH), and PNM Resources, Inc. (NYSE:PNM). This group of stocks’ market values match NBR’s market value.
|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 20 hedge funds with bullish positions and the average amount invested in these stocks was $236 million. That figure was $423 million in NBR’s case. Molina Healthcare, Inc. (NYSE:MOH) is the most popular stock in this table. On the other hand Avista Corp (NYSE:AVA) is the least popular one with only 9 bullish hedge fund positions. Nabors Industries Ltd. (NYSE:NBR) 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 MOH might be a better candidate to consider a long position in.