What Do Hedge Funds Think of Select Medical Holdings Corporation (SEM)?

As industrywide interest jumped, specific money managers were breaking ground themselves. Renaissance Technologies, managed by Jim Simons, established the biggest position in Select Medical Holdings Corporation (NYSE:SEM). Renaissance Technologies had $1.7 million invested in the company at the end of the quarter. James E. Flynn’s Deerfield Management also made a $0.6 million investment in the stock during the quarter. The other funds with brand new SEM positions are Ken Gray and Steve Walsh’s Bryn Mawr Capital, Dmitry Balyasny’s Balyasny Asset Management, and Benjamin A. Smith’s Laurion Capital Management.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Select Medical Holdings Corporation (NYSE:SEM) but similarly valued. We will take a look at Prothena Corporation PLC (NASDAQ:PRTA), Third Point Reinsurance Ltd (NYSE:TPRE), Avon Products, Inc. (NYSE:AVP), and Flow International Corporation (NASDAQ:FLOW). All of these stocks’ market caps are similar to SEM’s market cap.

As you can see these stocks had an average of 21.75 hedge funds with bullish positions and the average amount invested in these stocks was $225 million. That figure was $337 million in SEM’s case. Avon Products, Inc. (NYSE:AVP) is the most popular stock in this table. On the other hand Third Point Reinsurance Ltd (NYSE:TPRE) is the least popular one with only 14 bullish hedge fund positions. Select Medical Holdings Corporation (NYSE:SEM) 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 AVP might be a better candidate to consider a long position.