As one would reasonably expect, key hedge funds were breaking ground themselves. Balyasny Asset Management assembled the most valuable call position in Sodastream International Ltd (NASDAQ:SODA). Moreover, Balyasny Asset Management also initiated a $0.4 million position during the quarter. The only other fund with a brand new SODA position is Joseph Mathias’s Concourse Capital Management.
Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Sodastream International Ltd (NASDAQ:SODA) but similarly valued. These stocks are Cryolife Inc (NYSE:CRY), Rubicon Minerals Corp. (USA) (NYSEAMEX:RBY), Arctic Cat Inc (NASDAQ:ACAT), and Pace Holdings Corp (NASDAQ:PACE). This group of stocks’ market valuations are similar to SODA’s market valuation.
|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 9 hedge funds with bullish positions and the average amount invested in these stocks was $58 million. That figure was $39 million in SODA’s case. Pace Holdings Corp (NASDAQ:PACE) is the most popular stock in this table. On the other hand Rubicon Minerals Corp. (USA) (NYSEAMEX:RBY) is the least popular one with only 4 bullish hedge fund positions. Sodastream International Ltd (NASDAQ:SODA) 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 PACE might be a better candidate to consider a long position.