Should You Add Rogers Communications Inc. (USA) (RCI) to Your Portfolio?

Now, some big names were breaking ground themselves. McKinley Capital Management established the biggest position in Rogers Communications Inc. (USA) (NYSE:RCI). Ray Dalio’s Bridgewater Associates also initiated a $15.7 million position during the quarter. The following funds were also among the new RCI investors: Brad Dunkley and Blair Levinsky’s Waratah Capital Advisors, Israel Englander’s Millennium Management, and Alec Litowitz and Ross Laser’s Magnetar Capital.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Rogers Communications Inc. (USA) (NYSE:RCI) but similarly valued. We will take a look at Hess Corp. (NYSE:HES), Dr Pepper Snapple Group Inc. (NYSE:DPS), United Continental Holdings Inc (NYSE:UAL), and Under Armour Inc (NYSE:UA). All of these stocks’ market caps are similar to RCI’s market cap.

As you can see these stocks had an average of 40 hedge funds with bullish positions and the average amount invested in these stocks was $1.93 billion. That figure was just $200 million in RCI’s case. United Continental Holdings Inc (NYSE:UAL) is the most popular stock in this table. On the other hand Under Armour Inc (NYSE:UA) is the least popular one with 28 bullish hedge fund positions. Compared to these stocks Rogers Communications Inc. (USA) (NYSE:RCI) is even less popular than Under Armour Inc (NYSE:UA). 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.

Disclosure: none