What Do Hedge Funds Think of LaSalle Hotel Properties (LHO)?

Now, specific money managers were breaking ground themselves. Clinton Group, managed by George Hall, initiated the biggest position in LaSalle Hotel Properties (NYSE:LHO). Clinton Group had $2.4 million invested in the company at the end of the quarter. John Khoury’s Long Pond Capital also initiated an $1.2 million position during the quarter. The other funds with new positions in the stock are Peter Muller’s PDT Partners, Jacob Gottlieb’s Visium Asset Management, and Mike Vranos’s Ellington.

Let’s check out hedge fund activity in other stocks similar to LaSalle Hotel Properties (NYSE:LHO). These stocks are Teledyne Technologies Incorporated (NYSE:TDY), Aspen Technology, Inc. (NASDAQ:AZPN), VeriFone Systems Inc (NYSE:PAY), and New Oriental Education & Tech Grp (ADR) (NYSE:EDU). All of these stocks’ market caps are similar to LHO’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
TDY 11 127021 1
AZPN 31 478208 5
PAY 27 147165 3
EDU 15 167778 -7

As you can see these stocks had an average of 21 hedge funds with bullish positions and the average amount invested in these stocks was $230 million. That figure was $41 million in LHO’s case. Aspen Technology, Inc. (NASDAQ:AZPN) is the most popular stock in this table. On the other hand Teledyne Technologies Incorporated (NYSE:TDY) is the least popular one with only 11 bullish hedge fund positions. LaSalle Hotel Properties (NYSE:LHO) 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 AZPN might be a better candidate to consider a long position.