As aggregate interest increased, some big names have been driving this bullishness. Baupost Group, managed by Seth Klarman, established the most valuable position in Olin Corporation (NYSE:OLN). The fund had $117.7 million invested in the company at the end of the quarter. Clint Carlson’s Carlson Capital also made a $19.8 million investment in the stock during the quarter. The following funds were also among the new OLN investors: Michael Platt and William Reeves’s BlueCrest Capital Mgmt., Lee Munder’s Lee Munder Capital Group, and Daniel S. Och’s OZ Management.
Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Olin Corporation (NYSE:OLN) but similarly valued. These stocks are Shutterfly, Inc. (NASDAQ:SFLY), Talen Energy Corp (NYSE:TLN), Premier Inc (NASDAQ:PINC), and Apollo Investment Corp. (NASDAQ:AINV). This group of stocks’ market values resemble OLN’s market value.
|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 20 hedge funds with bullish positions and the average amount invested in these stocks was $180 million. That figure was $486 million in OLN’s case. Shutterfly, Inc. (NASDAQ:SFLY) is the most popular stock in this table, while Premier Inc (NASDAQ:PINC) is the least popular one with only 17 bullish hedge fund positions. Compared to these stocks Olin Corporation (NYSE:OLN) is more popular among hedge funds and has attracted a significantly higher amount of investments. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.