WPP plc (WPPGY) Hedge Funds Are Snapping Up

As industrywide interest jumped, specific money managers have jumped into WPP plc (NASDAQ:WPPGY) headfirst. Citadel Investment Group established the largest position in WPP plc (NASDAQ:WPPGY) which had $0.4 million invested in the company at the end of the quarter. Robert B. Gillam’s McKinley Capital Management also initiated a $0.3 million position during the quarter. The only other fund with a brand new WPPGY position is Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.

Let’s now review hedge fund activity in other stocks similar to WPP PLC (ADR) (NASDAQ:WPPGY). These stocks are Evercore Partners Inc. (NYSE:EVR), Hillenbrand, Inc. (NYSE:HI), NGL Energy Partners LP (NYSE:NGL), and NetGear, Inc. (NASDAQ:NTGR). This group of stocks’ market caps match WPPGY’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 $100 million. That figure was $119 million in WPPGY’s case. Evercore Partners Inc. (NYSE:EVR) is the most popular stock in this table. On the other hand NGL Energy Partners LP (NYSE:NGL) is the least popular one with only 6 bullish hedge fund positions. WPP plc (NASDAQ:WPPGY) 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 EVR might be a better candidate to consider taking a long position in.

Disclosure: None