Should You Buy Chemours Co (CC)?

As aggregate interest increased, specific money managers were leading the bulls’ herd. Point72 Asia (Singapore), managed by Steve Cohen, established the largest position in Chemours Co (NYSE:CC). Point72 Asia (Singapore) had $20.6 million invested in the company at the end of the quarter. Jonathan Barrett and Paul Segal’s Luminus Management also made a $14.9 million investment in the stock during the quarter. The other funds with new positions in the stock are Robert B. Gillam’s McKinley Capital Management, Steve Cohen’s Point72 Asset Management, and Mark Coe’s Coe Capital Management.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Chemours Co (NYSE:CC) but similarly valued. We will take a look at Houlihan Lokey Inc (NYSE:HLI), GoPro Inc (NASDAQ:GPRO), Ollie’s Bargain Outlet Holdings Inc (NASDAQ:OLLI), and The Empire District Electric Company (NYSE:EDE). This group of stocks’ market values are similar to Chemours’ market value.

As you can see these stocks had an average of 15 investors with bullish positions and the average amount invested in these stocks was $130 million. That figure was $736 million in Chemours’ case. Ollie’s Bargain Outlet Holdings Inc (NASDAQ:OLLI) is the most popular stock in this table. On the other hand The Empire District Electric Company (NYSE:EDE) is the least popular one with only seven bullish hedge fund positions. Compared to these stocks Chemours Co (NYSE:CC) is more popular among hedge funds. 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.