Should You Buy GasLog Ltd (GLOG)?

As aggregate interest increased, some big names were leading the bulls’ herd. Renaissance Technologies, managed by Jim Simons, established a position in GasLog Ltd (NYSE:GLOG). Renaissance Technologies had $1.5 million invested in the company at the end of the quarter. Peter Muller’s PDT Partners also made an $1 million investment in the stock during the quarter. The other funds with brand new GLOG positions are Brian Taylor’s Pine River Capital Management, Michael Platt and William Reeves’s BlueCrest Capital Mgmt., and Benjamin A. Smith’s Laurion Capital Management.

Let’s go over hedge fund activity in other stocks similar to GasLog Ltd (NYSE:GLOG). We will take a look at Par Pacific Holdings, Inc. (NYSEMKT:PARR), American Railcar Industries, Inc. (NASDAQ:ARII), NutriSystem Inc. (NASDAQ:NTRI), and Central Garden & Pet Co (NASDAQ:CENT). This group of stocks’ market valuations are similar to GLOG’s market valuation.

As you can see from the table above, these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $229 million. That figure was $38 million in GLOG’s case. NutriSystem Inc. (NASDAQ:NTRI) is the most popular stock in this group, while the least popular one is American Railcar Industries, Inc. (NASDAQ:ARII). In comparison, GasLog Ltd (NYSE:GLOG) is not the least popular stock in this group, but hedge fund interest is still not impressive. This is a slightly negative signal and we’d rather spend our time on analyzing stocks that hedge funds are collectively the fondest of and, in this case, NTRI may be a better alternative.