As one would reasonably expect, specific money managers have jumped into Flamel Technologies S.A. (ADR) (NASDAQ:FLML) headfirst. Perceptive Advisors, led by Joseph Edelman, created the most outsized position in Flamel Technologies S.A. (ADR) (NASDAQ:FLML). Perceptive Advisors had $16.9 million invested in the company at the end of the quarter. Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital also made a $0.3 million investment in the stock during the quarter. The following funds were also among the new FLML investors: Mike Vranos’ Ellington and Ken Griffin’s Citadel Investment Group.
Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Flamel Technologies S.A. (ADR) (NASDAQ:FLML) but similarly valued. We will take a look at Ladenburg Thalmann Financial Services (NYSEAMEX:LTS), Camden National Corporation (NASDAQ:CAC), Pier 1 Imports, Inc. (NYSE:PIR), and Siliconware Precision Industries (ADR) (NASDAQ:SPIL). This group of stocks’ market caps are closest to FLML’s market cap.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| LTS | 6 | 1728 | 1 |
| CAC | 6 | 66695 | 0 |
| PIR | 18 | 77201 | -4 |
| SPIL | 6 | 16403 | 1 |
As you can see these stocks had an average of 9 hedge funds with bullish positions and the average amount invested in these stocks was $41 million. That figure was $163 million in FLML’s case. Pier 1 Imports, Inc. (NYSE:PIR) is the most popular stock in this table. On the other hand Ladenburg Thalmann Financial Services (NYSEAMEX:LTS) is the least popular one with only 6 bullish hedge fund positions. Flamel Technologies S.A. (ADR) (NASDAQ:FLML) 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 PIR might be a better candidate to consider taking a long position in.
Disclosure: None
