As industrywide interest jumped, key hedge funds have been driving this bullishness. Renaissance Technologies, managed by Jim Simons, created the biggest position in Amphenol Corporation (NYSE:APH). Renaissance Technologies had $21.4 million invested in the company at the end of the quarter. Jacob Gottlieb’s Visium Asset Management also made a $4.8 million investment in the stock during the quarter. The other funds with new positions in the stock are John Overdeck and David Siegel’s Two Sigma Advisors, Dmitry Balyasny’s Balyasny Asset Management, and Paul Tudor Jones’s Tudor Investment Corp.
Let’s check out hedge fund activity in other stocks similar to Amphenol Corporation (NYSE:APH). We will take a look at Campbell Soup Company (NYSE:CPB), NetEase, Inc (ADR) (NASDAQ:NTES), Endo Health Solutions Inc (NASDAQ:ENDP), and Dollar Tree, Inc. (NASDAQ:DLTR). This group of stocks’ market valuations are similar to APH’s market valuation.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| CPB | 25 | 146622 | 5 |
| NTES | 26 | 2385050 | -10 |
| ENDP | 61 | 4133074 | -6 |
| DLTR | 52 | 3273014 | -8 |
As you can see these stocks had an average of 41 hedge funds with bullish positions and the average amount invested in these stocks was $2,484 million. That figure was $433 million in APH’s case. Endo Health Solutions Inc (NASDAQ:ENDP) is the most popular stock in this table. On the other hand Campbell Soup Company (NYSE:CPB) is the least popular one with only 25 bullish hedge fund positions. Amphenol Corporation (NYSE:APH) 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 ENDP might be a better candidate to consider a long position.
