As industrywide interest jumped, key hedge funds were leading the bulls’ herd. Passport Capital, managed by John Burbank, assembled the most valuable position in Parsley Energy Inc (NYSE:PE). Passport Capital had $85.6 million invested in the company at the end of the quarter. Anand Parekh’s Alyeska Investment Group also initiated a $61.2 million position during the quarter. The following funds were also among the new PE investors: Todd J. Kantor’s Encompass Capital Advisors, Neil Chriss’ Hutchin Hill Capital, and Ken Heebner’s Capital Growth Management.
Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Parsley Energy Inc (NYSE:PE) but similarly valued. We will take a look at EPR Properties (NYSE:EPR), Weingarten Realty Investors (NYSE:WRI), Opko Health Inc. (NYSE:OPK), and Axis Capital Holdings Limited (NYSE:AXS). All of these stocks’ market caps resemble PE’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 16 funds with long holdings at the end of September and the average amount invested in these stocks was $193 million, versus $1.14 billion in PE’s case. EPR Properties (NYSE:EPR) is the most popular stock in this table. On the other hand Weingarten Realty Investors (NYSE:WRI) is the least popular one with only 10 funds holding long positions. Compared to these stocks Parsley Energy Inc (NYSE:PE) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.