Tiffany & Co. (TIF): Are Hedge Funds Right About This Stock?

As one would reasonably expect, key money managers were leading the bulls’ herd. Alyeska Investment Group, managed by Anand Parekh, created the most outsized position in Tiffany & Co. (NYSE:TIF). The fund had $35.5 million invested in the company at the end of the quarter. Paul Marshall and Ian Wace’s Marshall Wace LLP also made a $27.1 million investment in the stock during the quarter. The other funds with new positions in the stock are Ken Griffin’s Citadel Investment Group, Phill Gross and Robert Atchinson’s Adage Capital Management, and Louis Bacon’s Moore Global Investments.

Let’s also examine hedge fund activity in other stocks similar to Tiffany & Co. (NYSE:TIF). We will take a look at F5 Networks, Inc. (NASDAQ:FFIV), PVH Corp (NYSE:PVH), Marine Harvest ASA (NYSE:MHG), and Affiliated Managers Group, Inc. (NYSE:AMG). This group of stocks’ market caps match TIF’s market cap.

As you can see these stocks had an average of 26 hedge funds with bullish positions and the average amount invested in these stocks was $710 million. That figure was $497 million in TIF’s case. Affiliated Managers Group, Inc. (NYSE:AMG) is the most popular stock in this table. On the other hand Marine Harvest ASA (NYSE:MHG) is the least popular one with only 5 bullish hedge fund positions. Tiffany & Co. (NYSE:TIF) 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 AMG might be a better candidate to consider a long position.

Disclosure: none.