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|
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.