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Why Burlington Stores Inc (BURL)’s Stock Is Trading Higher Today?

Balyasny Asset Management, managed by Dmitry Balyasny, initiated the biggest position in Burlington Stores Inc (NYSE:BURL). Balyasny Asset Management had $111.4 million invested in the company at the end of the quarter. Robert Pohly’s Samlyn Capital also made a $62.7 million investment in the stock during the quarter. The other funds with brand new BURL positions are Louis Bacon’s Moore Global Investments, Drew Cupps’s Cupps Capital Management, and Bruce Kovner’s Caxton Associates LP.

Let’s also examine hedge fund activity in other stocks similar to Burlington Stores Inc (NYSE:BURL). We will take a look at AmeriGas Partners, L.P. (NYSE:APU), Hospitality Properties Trust (NYSE:HPT), ABIOMED, Inc. (NASDAQ:ABMD), and HEICO Corporation (NYSE:HEI). All of these stocks’ market caps are similar to BURL’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
APU 7 5280 -2
HPT 15 56784 3
ABMD 24 387419 3
HEI 21 274019 -4

As you can see these stocks had an average of 17 hedge funds with bullish positions and the average amount invested in these stocks was $181 million. That figure was $753 million in BURL’s case. ABIOMED, Inc. (NASDAQ:ABMD) is the most popular stock in this table. On the other hand AmeriGas Partners, L.P. (NYSE:APU) is the least popular one with only 7 bullish hedge fund positions. Compared to these stocks Burlington Stores Inc (NYSE:BURL) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None

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