What Do Hedge Funds Think of Colfax Corp (CFX)?

Consequently, key money managers have jumped into Colfax Corp (NYSE:CFX) headfirst. Millennium Management, managed by Israel Englander, initiated the largest position in Colfax Corp (NYSE:CFX). Millennium Management had $5.2 million invested in the company at the end of the quarter. James A. Noonan’s Pivot Point Capital also initiated a $4.2 million position during the quarter. The other funds with new positions in the stock are Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, Peter Muller’s PDT Partners, and Glenn Russell Dubin’s Highbridge Capital Management.

Let’s go over hedge fund activity in other stocks similar to Colfax Corp (NYSE:CFX). These stocks are CPFL Energia S.A. (ADR) (NYSE:CPL), EPAM Systems Inc (NYSE:EPAM), BankUnited (NYSE:BKU), and Tenet Healthcare Corp (NYSE:THC). This group of stocks’ market caps match CFX’s market cap.

As you can see these stocks had an average of 20.5 hedge funds with bullish positions and the average amount invested in these stocks was $459 million. That figure was $759 million in CFX’s case. Tenet Healthcare Corp (NYSE:THC) is the most popular stock in this table. On the other hand CPFL Energia S.A. (ADR) (NYSE:CPL) is the least popular one with only 6 bullish hedge fund positions. Colfax Corp (NYSE:CFX) 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 THC might be a better candidate to consider a long position.