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Shutterfly, Inc. (SFLY): Are Hedge Funds Right About This Stock?

Consequently, specific money managers have been driving this bullishness. Tiger Legatus Capital, managed by Jesse Ro, assembled the most outsized position in Shutterfly, Inc. (NASDAQ:SFLY). Tiger Legatus Capital had $6.7 million invested in the company at the end of the quarter. Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital also made a $5.2 million investment in the stock during the quarter. The following funds were also among the new SFLY investors: Ken Griffin’s Citadel Investment Group, Brian Taylor’s Pine River Capital Management, and Philip Rosenstrach’s Pomelo Capital.

Let’s check out hedge fund activity in other stocks similar to Shutterfly, Inc. (NASDAQ:SFLY). We will take a look at OM Asset Management PLC (NYSE:OMAM), Sothebys (NYSE:BID), Shutterstock Inc (NYSE:SSTK), and American States Water Co (NYSE:AWR). This group of stocks’ market caps are similar to SFLY’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
OMAM 12 63974 1
BID 20 559010 4
SSTK 9 36834 2
AWR 8 42205 0

As you can see these stocks had an average of 12.25 hedge funds with bullish positions and the average amount invested in these stocks was $176 million. That figure was $460 million in SFLY’s case. Sothebys (NYSE:BID) is the most popular stock in this table. On the other hand American States Water Co (NYSE:AWR) is the least popular one with only 8 bullish hedge fund positions. Compared to these stocks Shutterfly, Inc. (NASDAQ:SFLY) 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.

Disclosure: None

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