As aggregate interest increased, key hedge funds have jumped into FLIR Systems, Inc. (NASDAQ:FLIR) headfirst. Marshall Wace LLP, led by Paul Marshall and Ian Wace, created the most outsized position in FLIR Systems, Inc. (NASDAQ:FLIR). Marshall Wace LLP had $7.3 million invested in the company at the end of the quarter. Benjamin A. Smith’s Laurion Capital Management also made a $7.2 million investment in the stock during the quarter. The following funds were also among the new FLIR investors: Matthew Tewksbury’s Stevens Capital Management, David Costen Haley’s HBK Investments, and George Hall’s Clinton Group.
Let’s check out hedge fund activity in other stocks similar to FLIR Systems, Inc. (NASDAQ:FLIR). We will take a look at First American Financial Corp (NYSE:FAF), Boardwalk Pipeline Partners, LP (NYSE:BWP), ICON plc – Ordinary Shares (NASDAQ:ICLR), and Euronet Worldwide, Inc. (NASDAQ:EEFT). All of these stocks’ market caps are similar to FLIR’s market cap.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| FAF | 27 | 429615 | 0 |
| BWP | 18 | 140591 | 2 |
| ICLR | 20 | 282106 | 0 |
| EEFT | 22 | 233336 | -6 |
As you can see these stocks had an average of 22 hedge funds with bullish positions and the average amount invested in these stocks was $271 million. That figure was $253 million in FLIR’s case. First American Financial Corp (NYSE:FAF) is the most popular stock in this table. On the other hand Boardwalk Pipeline Partners, LP (NYSE:BWP) is the least popular one with only 18 bullish hedge fund positions. FLIR Systems, Inc. (NASDAQ:FLIR) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard FAF might be a better candidate to consider taking a long position in.
Disclosure: None
