Virtus Investment Partners Inc (VRTS) Hedge Funds Are Snapping Up

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As industrywide interest jumped, specific money managers were leading the bulls’ herd. Interval Partners, led by Gregg Moskowitz, established the biggest position in Virtus Investment Partners Inc (NASDAQ:VRTS). Interval Partners had $2.3 million invested in the company at the end of the quarter. D E Shaw, one of the biggest hedge funds in the world, also made a $0.6 million investment in the stock during the quarter. The following funds were also among the new VRTS investors: Michael Platt and William Reeves’s BlueCrest Capital Mgmt., Ken Griffin’s Citadel Investment Group, and Israel Englander’s Millennium Management.

Let’s go over hedge fund activity in other stocks similar to Virtus Investment Partners Inc (NASDAQ:VRTS). These stocks are Saia Inc (NASDAQ:SAIA), City Holding Company (NASDAQ:CHCO), Gray Television, Inc. (NYSE:GTN), and Nimble Storage Inc (NYSE:NMBL). This group of stocks’ market valuations resemble VRTS’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
SAIA 11 65634 2
CHCO 11 41686 2
GTN 17 87248 -3
NMBL 19 182228 5

As you can see these stocks had an average of 14.5 hedge funds with bullish positions and the average amount invested in these stocks was $94 million. That figure was $102 million in VRTS’s case. Nimble Storage Inc (NYSE:NMBL) is the most popular stock in this table. On the other hand Saia Inc (NASDAQ:SAIA) is the least popular one with only 11 bullish hedge fund positions. Virtus Investment Partners Inc (NASDAQ:VRTS) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard NMBL might be a better candidate to consider taking a long position in.

Disclosure: None


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