Now, key money managers were breaking ground themselves. Three Corner Global Investors, managed by Gunnar Overstrom, initiated the most valuable position in William Lyon Homes (NYSE:WLH). Three Corner Global Investors had $3.3 million invested in the company at the end of the quarter. Ken Fisher’s Fisher Asset Management also made a $3.1 million investment in the stock during the quarter. The following funds were also among the new WLH investors: Michael Platt and William Reeves’ BlueCrest Capital Mgmt., Leon Cooperman’s Omega Advisors, and Peter Muller’s PDT Partners.
Let’s check out hedge fund activity in other stocks similar to William Lyon Homes (NYSE:WLH). These stocks are Washington Trust Bancorp (NASDAQ:WASH), Mercer International Inc. (NASDAQ:MERC), First Potomac Realty Trust (NYSE:FPO), and United Financial Bancorp, Inc. (NASDAQ:UBNK). This group of stocks’ market valuations are closest to WLH’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 11.5 hedge funds with bullish positions and the average amount invested in these stocks was $78 million. That figure was $310 million in WLH’s case. Mercer International Inc. (NASDAQ:MERC) is the most popular stock in this table. On the other hand Washington Trust Bancorp (NASDAQ:WASH) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks William Lyon Homes (NYSE:WLH) is more popular among hedge funds, and its popularity is growing. Considering that hedge funds are fond of this stock in relation to its market cap peers and have far more money invested in it, it may be a good idea to analyze it in detail and potentially include it in your portfolio.