What Have Hedge Funds Have To Say About Surgical Care Affiliates Inc (SCAI)

As one would reasonably expect, key hedge funds were leading the bulls’ herd. Marshall Wace LLP assembled the largest position in Surgical Care Affiliates Inc (NASDAQ:SCAI). Marshall Wace LLP had $6.8 million invested in the company at the end of the quarter. Leighton Welch’s Welch Capital Partners also initiated a $4.5 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, Michael Platt and William Reeves’ BlueCrest Capital Mgmt., and John Overdeck and David Siegel’s Two Sigma Advisors.

Let’s go over hedge fund activity in other stocks similar to Surgical Care Affiliates Inc (NASDAQ:SCAI). These stocks are MGE Energy, Inc. (NASDAQ:MGEE), Great Western Bancorp Inc (NYSE:GWB), TerraForm Power Inc (NASDAQ:TERP), and Badger Meter, Inc. (NYSE:BMI). All of these stocks’ market caps match SCAI’s market cap.

As you can see these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $123 million. That figure was $83 million in SCAI’s case. TerraForm Power Inc (NASDAQ:TERP) is the most popular stock in this table. On the other hand MGE Energy, Inc. (NASDAQ:MGEE) is the least popular one with only 9 bullish hedge fund positions. Surgical Care Affiliates Inc (NASDAQ:SCAI) 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 like the most. In this regard TERP might be a better candidate to consider taking a long position in.

Disclosure: None