As industrywide interest jumped, some big names were breaking ground themselves. Cobalt Capital Management, managed by Wayne Cooperman, created the most valuable position in MBIA Inc. (NYSE:MBI). Cobalt Capital Management had $3.3 million invested in the company at the end of the quarter. Benjamin A. Smith’s Laurion Capital Management also initiated a $1.7 million position during the quarter. The following funds were also among the new MBI investors: Steve Cohen’s Point72 Asset Management, Glenn Russell Dubin’s Highbridge Capital Management, and Mike Vranos’s Ellington.
Let’s now take a look at hedge fund activity in other stocks similar to MBIA Inc. (NYSE:MBI). We will take a look at Outerwall Inc (NASDAQ:OUTR), Meritor Inc (NYSE:MTOR), McDermott International (NYSE:MDR), and InfraREIT Inc (NYSE:HIFR). All of these stocks’ market caps are closest to MBI’s market cap.
Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
---|---|---|---|
OUTR | 28 | 388498 | -2 |
MTOR | 25 | 263042 | 0 |
MDR | 21 | 149602 | 1 |
HIFR | 19 | 189396 | -7 |
As you can see these stocks had an average of 23.25 hedge funds with bullish positions and the average amount invested in these stocks was $248 million. That figure was $263 million in MBI’s case. Outerwall Inc (NASDAQ:OUTR) is the most popular stock in this table. On the other hand InfraREIT Inc (NYSE:HIFR) is the least popular one with only 19 bullish hedge fund positions. Compared to these stocks MBIA Inc. (NYSE:MBI) 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.