Hedge Funds Are Betting On James River Group Holdings Ltd (JRVR)

Consequently, specific money managers were leading the bulls’ herd. Lomas Capital Management, led by Daniel Lascano, established the most outsized position in James River Group Holdings Ltd (NASDAQ:JRVR). Lomas Capital Management had $3.7 million invested in the company at the end of the quarter. Glenn Russell Dubin’s Highbridge Capital Management also initiated a $0.8 million position during the quarter. The only other fund with a new position in the stock is Millennium Management, led by Israel Englander.

Let’s now review hedge fund activity in other stocks similar to James River Group Holdings Ltd (NASDAQ:JRVR). These stocks are Amicus Therapeutics, Inc. (NASDAQ:FOLD), Atlantic Tele-Network, Inc. (NASDAQ:ATNI), Callidus Software Inc. (NASDAQ:CALD), and Gran Tierra Energy Inc. (NYSEAMEX:GTE). All of these stocks’ market caps resemble JRVR’s market cap.

As you can see these stocks had an average of 17.75 hedge funds with bullish positions and the average amount invested in these stocks was $192 million. That figure was $528 million in JRVR’s case. Amicus Therapeutics, Inc. (NASDAQ:FOLD) is the most popular stock in this table. On the other hand Atlantic Tele-Network, Inc. (NASDAQ:ATNI) is the least popular one with only 10 bullish hedge fund positions. James River Group Holdings Ltd (NASDAQ:JRVR) 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 FOLD might be a better candidate to consider taking a long position in.