Is Taubman Centers, Inc. (TCO) A Good Stock To Buy?

Consequently, specific money managers were leading the bulls’ herd. Point State Capital, managed by Zach Schreiber, established the most outsized position in Taubman Centers, Inc. (NYSE:TCO). Point State Capital had $63.4 million invested in the company at the end of the quarter. Dmitry Balyasny’s Balyasny Asset Management also made a $6.7 million investment in the stock during the quarter. The other funds with brand new TCO positions are Chao Ku’s Nine Chapters Capital Management, Glenn Russell Dubin’s Highbridge Capital Management, and John Overdeck and David Siegel’s Two Sigma Advisors.

Let’s now take a look at hedge fund activity in other stocks similar to Taubman Centers, Inc. (NYSE:TCO). These stocks are Douglas Emmett, Inc. (NYSE:DEI), Shell Midstream Partners LP (NYSE:SHLX), FNFV Group (NYSE:FNFV), and Murphy Oil Corporation (NYSE:MUR). This group of stocks’ market values are similar to TCO’s market value.

As you can see these stocks had an average of 19 hedge funds with bullish positions and the average amount invested in these stocks was $211 million. That figure was $605 million in TCO’s case. FNFV Group (NYSE:FNFV) is the most popular stock in this table. On the other hand Shell Midstream Partners LP (NYSE:SHLX) is the least popular one with only 10 bullish hedge fund positions. Taubman Centers, Inc. (NYSE:TCO) 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 FNFV might be a better candidate to consider a long position.