Should You Invest In Molson Coors Brewing Co (TAP)?

As aggregate interest increased, some big names were leading the bulls’ herd. Scopus Asset Management, led by Alexander Mitchell, initiated the most outsized call position in Molson Coors Brewing Co (NYSE:TAP). Scopus Asset Management had $153.7 million invested in the company at the end of the quarter. Anand Parekh’s Alyeska Investment Group also made a $81.6 million investment in the stock during the quarter. The other funds with brand new TAP positions are Alan Fournier’s Pennant Capital Management, Carl Tiedemann and Michael Tiedemann’s TIG Advisors, and Curtis Macnguyen’s Ivory Capital (Investment Mgmt).

Let’s go over hedge fund activity in other stocks similar to Molson Coors Brewing Co (NYSE:TAP). We will take a look at Ingersoll-Rand PLC (NYSE:IR), American Airlines Group Inc (NASDAQ:AAL), Rogers Communications Inc. (USA) (NYSE:RCI), and Williams Companies, Inc. (NYSE:WMB). This group of stocks’ market values are closest to TAP’s market value.

As you can see these stocks had an average of 41 investors holding shares at the end of September and the average amount invested in these stocks was $2.03 billion. That figure was $3.40 billion in TAP’s case. Williams Companies, Inc. (NYSE:WMB) is the most popular stock in this table with 66 funds reporting long positions. On the other hand Rogers Communications Inc. (USA) (NYSE:RCI) is the least popular one with only 14 bullish hedge fund positions. Molson Coors Brewing Co (NYSE:TAP) 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 Williams Companies, Inc. (NYSE:WMB) might be a better candidate to consider a long position.

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Disclosure: None