Now, specific money managers have jumped into Cheesecake Factory Inc (NASDAQ:CAKE) headfirst. Caxton Associates LP, managed by Bruce Kovner, established the most valuable position in Cheesecake Factory Inc (NASDAQ:CAKE). Caxton Associates LP had $4.4 million invested in the company at the end of the quarter. Robert Pohly’s Samlyn Capital also made a $3.5 million investment in the stock during the quarter. The following funds were also among the new CAKE investors: Neil Chriss’ Hutchin Hill Capital, Adam Weiss’ Stillwater Investment Management, and Matthew Hulsizer’s PEAK6 Capital Management.
Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Cheesecake Factory Inc (NASDAQ:CAKE) but similarly valued. We will take a look at B2Gold Corp (NYSEMKT:BTG), UniFirst Corp (NYSE:UNF), Whiting Petroleum Corp (NYSE:WLL), and Generac Holdings Inc. (NYSE:GNRC). All of these stocks’ market caps are closest to CAKE’s market cap.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see these stocks had an average of 19 hedge funds with bullish positions and the average amount invested in these stocks was $263 million. That figure was $168 million in CAKE’s case. Whiting Petroleum Corp (NYSE:WLL) is the most popular stock in this table. On the other hand B2Gold Corp (NYSEMKT:BTG) is the least popular one with only 12 bullish hedge fund positions. Cheesecake Factory Inc (NASDAQ:CAKE) 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 really like. In this regard WLL might be a better candidate to consider a long position in.