Quant Funds Express Interest in These Stocks

#3. Masco Corp (NYSE:MAS)

Masco Corp (NYSE:MAS) saw a significant drop in its popularity among quant funds during the first quarter. In that period, Two Sigma Advisors, AQR Capital and Renaissance Technologies reduced their stakes in the company by 27%, 15%, and 20%, respectively. However, D. E. Shaw bucked that trend and brought up its holding in Masco Corp (NYSE:MAS) by 37% to 1.27 million shares during the same period. Similar to DENTSPLY SIRONA Inc, Masco Corp (NYSE:MAS)’s stock has also been on a gradual uptrend since 2012 and is currently trading near its 52-week high, but it is still down by over 20% from the highs it made above $37 mark in 2005. On June 1, analysts at FBR & Co. initiated their coverage on the stock with a ‘Buy’ rating. On the same day, analysts at Macquarie upgraded the stock to ‘Outperform’ from ‘Neutral’.

#2. ARRIS International plc (NASDAQ:ARRS)

Moving on, ARRIS Group started trading as ARRIS International plc (NASDAQ:ARRS) after its $2.1 billion merger with Pace PLC got completed at the beginning of 2016. During the first quarter, Two Sigma Advisors initiated a stake in the company and D. E. Shaw increased its holding in it by 288%, whereas Renaissance Technologies and AQR Capital lowered their positions, by 32% and 30%, respectively. Since the completion of the merger, shares of ARRIS International plc (NASDAQ:ARRS) have been drifting lower, losing around 23% of their value so far in 2016. However, most analysts believe that the stock will start doing well once the synergies from the ARRIS-PACE merger start unlocking in the coming quarters. Analysts at Jefferies Group initiated a coverage on ARRIS International’s stock on June 10, with a ‘Buy’ rating and $31 price target.

#1. Baxter International Inc (NYSE:BAX)

Quant funds covered by us, with the exception of Two Sigma Advisors, became increasingly bullish on Baxter International Inc (NYSE:BAX) during the first quarter. While Two Sigma Advisors lowered its stake in the company by 9% during the first quarter, D. E. Shaw, Renaissance Technologies, and AQR Capital increased it by 115%, 5% and 71%, respectively. Baxter International Inc (NYSE:BAX)’s stock was largely trading in a range in the months following the Baxalta Inc (NYSE:BXLT) spin-off in July last year. However, it started drifting upward in February and has so appreciated by 17% so far this year. In January, Shire PLC (ADR) (NASDAQ:SHPG) announced that it would acquire Baxalta Inc (NYSE:BXLT) in a $32 billion deal, which was completed recently. Baxter International’s stock currently sports an average rating of ‘Hold’ and an average price target of $48 from the 18 leading analysts on the Street who cover it.

Disclosure: None