Consequently, key money managers have been driving this bullishness. Highbridge Capital Management, managed by Glenn Russell Dubin, initiated the most valuable position in Oxford Industries, Inc. (NYSE:OXM). Highbridge Capital Management had $5.7 million invested in the company at the end of the quarter. Neil Chriss’ Hutchin Hill Capital also initiated a $2.4 million position during the quarter. The other funds with new positions in the stock are Richard Driehaus’ Driehaus Capital, Matthew Tewksbury’s Stevens Capital Management, and Peter Algert and Kevin Coldiron’s Algert Coldiron Investors.
Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Oxford Industries, Inc. (NYSE:OXM) but similarly valued. We will take a look at Methode Electronics Inc. (NYSE:MEI), Mueller Water Products, Inc. (NYSE:MWA), Essendant Inc (NASDAQ:ESND), and Chemical Financial Corporation (NASDAQ:CHFC). This group of stocks’ market caps match Oxford Industries, Inc.’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 $91 million. That figure was $164 million in Oxford Industries, Inc.’s case. Methode Electronics Inc. (NYSE:MEI) is the most popular stock in this table. On the other hand Chemical Financial Corporation (NASDAQ:CHFC) is the least popular one with only 13 bullish hedge fund positions. Oxford Industries, Inc. (NYSE:OXM) is tied for the most popular stock in this group, and is the only stock of the three that has rising sentiment in Q3. Coupled with the fact that it also has more money invested in it than any of the other stocks, and it looks like a good choice to consider a long position in.