Is Primerica, Inc. (PRI) Going To Burn These Hedge Funds?

As industrywide interest jumped, specific money managers were leading the bulls’ herd. Renaissance Technologies, led by Jim Simons, assembled the most valuable position in Primerica, Inc. (NYSE:PRI). Renaissance Technologies had $8.7 million invested in the company at the end of the quarter. Matthew Tewksbury’s Stevens Capital Management also made a $2.8 million investment in the stock during the quarter. The following funds were also among the new PRI investors: Glenn Russell Dubin’s Highbridge Capital Management, John Overdeck and David Siegel’s Two Sigma Advisors, and Andrew Feldstein and Stephen Siderow’s Blue Mountain Capital.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Primerica, Inc. (NYSE:PRI) but similarly valued. We will take a look at AMC Entertainment Holdings Inc (NYSE:AMC), Choice Hotels International, Inc. (NYSE:CHH), Integrated Device Technology, Inc. (NASDAQ:IDTI), and Medidata Solutions Inc (NASDAQ:MDSO). All of these stocks’ market caps are similar to PRI’s market cap.

As you can see these stocks had an average of 17.75 hedge funds with bullish positions and the average amount invested in these stocks was $160 million. That figure was $257 million in PRI’s case. Integrated Device Technology, Inc. (NASDAQ:IDTI) is the most popular stock in this table. On the other hand AMC Entertainment Holdings Inc (NYSE:AMC) is the least popular one with only 15 bullish hedge fund positions. Primerica, Inc. (NYSE:PRI) 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 IDTI might be a better candidate to consider taking a long position in.

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Disclosure: None