What Smart Money Thinks of Methanex Corporation (USA) (MEOH)?

As industrywide interest jumped, key money managers have jumped into Methanex Corporation (USA) (NASDAQ:MEOH) headfirst. Point72 Asset Management assembled the most outsized position in Methanex Corporation (USA) (NASDAQ:MEOH). Other funds with brand new MEOH positions are Andrew Feldstein and Stephen Siderow’s Blue Mountain Capital, Glenn Russell Dubin’s Highbridge Capital Management, and Glenn Russell Dubin’s Highbridge Capital Management.

Let’s now review hedge fund activity in other stocks similar to Methanex Corporation (USA) (NASDAQ:MEOH). These stocks are Manchester United PLC (NYSE:MANU), Univar Inc (NYSE:UNVR), Blackstone Mortgage Trust Inc (NYSE:BXMT), and Ciena Corporation (NASDAQ:CIEN). This group of stocks’ market values resemble MEOH’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
MANU 7 108652 -2
UNVR 24 444259 7
BXMT 17 273906 -1
CIEN 24 274755 -2

As you can see these stocks had an average of 18 funds with bullish positions and the average amount invested in these stocks was $275 million. That figure was $108 million in MEOH’s case. Univar Inc (NYSE:UNVR) is the most popular stock in this table. On the other hand Manchester United PLC (NYSE:MANU) is the least popular one with only seven bullish hedge fund positions. Methanex Corporation (USA) (NASDAQ:MEOH) 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 Univar Inc (NYSE:UNVR) might be a better candidate to consider taking a long position in.