As one would reasonably expect, specific money managers have jumped into Taylor Morrison Home Corp (NYSE:TMHC) headfirst. Balyasny Asset Management, led by Dmitry Balyasny, assembled the most outsized position in Taylor Morrison Home Corp (NYSE:TMHC). Balyasny Asset Management had $1.6 million invested in the company at the end of the quarter. Solomon Kumin’s Folger Hill Asset Management also initiated a $0.3 million position during the quarter. The following funds were also among the new TMHC investors: Mike Vranos’ Ellington and Neil Chriss’ Hutchin Hill Capital.
Let’s now review hedge fund activity in other stocks similar to Taylor Morrison Home Corp (NYSE:TMHC). These stocks are Neogen Corporation (NASDAQ:NEOG), Moog Inc (NYSE:MOG), Criteo SA (ADR) (NASDAQ:CRTO), and Sothebys (NYSE:BID). This group of stocks’ market caps are similar to TMHC’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 15 hedge funds with bullish positions and the average amount invested in these stocks was $203 million. That figure was $14 million in TMHC’s case. Sothebys (NYSE:BID) is the most popular stock in this table. On the other hand Neogen Corporation (NASDAQ:NEOG) is the least popular one with only 10 bullish hedge fund positions. Compared to these stocks Taylor Morrison Home Corp (NYSE:TMHC) is even less popular than NEOG. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.