TerraForm Global Inc (GLBL): Are Hedge Funds Right About This Stock?

As aggregate interest increased, specific money managers were breaking ground themselves. Omega Advisors, managed by Leon Cooperman, created the most valuable position in TerraForm Global Inc (NASDAQ:GLBL). Omega Advisors had $38.6 million invested in the company at the end of the quarter. Jonathan Barrett and Paul Segal’s Luminus Management also made a $26.8 million investment in the stock during the quarter. The following funds were also among the new GLBL investors: Larry Robbins’s Glenview Capital, Robert Pohly’s Samlyn Capital, and Mark Kingdon’s Kingdon Capital.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as TerraForm Global Inc (NASDAQ:GLBL) but similarly valued. These stocks are MiMedx Group Inc (NASDAQ:MDXG), American Woodmark Corporation (NASDAQ:AMWD), Sunrun Inc (NASDAQ:RUN), and Schweitzer-Mauduit International, Inc. (NYSE:SWM). This group of stocks’ market valuations resemble GLBL’s market valuation.

As you can see these stocks had an average of 15 hedge funds with bullish positions and the average amount invested in these stocks was $98 million. That figure was $251 million in GLBL’s case. MiMedx Group Inc (NASDAQ:MDXG) is the most popular stock in this table. On the other hand Sunrun Inc (NASDAQ:RUN) is the least popular one with only 14 bullish hedge fund positions. Compared to these stocks TerraForm Global Inc (NASDAQ:GLBL) 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.