Should You Buy Santander Consumer USA Holdings Inc (SC)?

Consequently, some big names were breaking ground themselves. Carlson Capital, managed by Clint Carlson, assembled the biggest position in Santander Consumer USA Holdings Inc (NYSE:SC). Carlson Capital had $36.6 million invested in the company at the end of the quarter. Jim Simons’s Renaissance Technologies also initiated a $5.2 million position during the quarter. The following funds were also among the new SC investors: Glenn Russell Dubin’s Highbridge Capital Management, Israel Englander’s Millennium Management, and Anand Parekh’s Alyeska Investment Group.

Let’s now take a look at hedge fund activity in other stocks similar to Santander Consumer USA Holdings Inc (NYSE:SC). These stocks are Microsemi Corporation (NASDAQ:MSCC), BBVA Banco Frances S.A. (ADR) (NYSE:BFR), CONSOL Energy Inc. (NYSE:CNX), and Vermilion Energy Inc (NYSE:VET). This group of stocks’ market values are closest to SC’s market value.

As you can see these stocks had an average of 20.5 hedge funds with bullish positions and the average amount invested in these stocks was $507 million. That figure was $316 million in SC’s case. CONSOL Energy Inc. (NYSE:CNX) is the most popular stock in this table. On the other hand Vermilion Energy Inc (NYSE:VET) is the least popular one with only 8 bullish hedge fund positions. Santander Consumer USA Holdings Inc (NYSE:SC) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard CNX might be a better candidate to consider a long position.

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Disclosure: None