As one would reasonably expect, key hedge funds were leading the bulls’ herd. Citadel Investment Group, led by Ken Griffin, created the most outsized position in U.S. Physical Therapy, Inc. (NYSE:USPH). Citadel Investment Group had $0.5 million invested in the company at the end of the quarter. David Costen Haley’s HBK Investments also made a $0.5 million investment in the stock during the quarter. The following funds were also among the new USPH investors: Matthew Tewksbury’s Stevens Capital Management, Joshua Packwood and Schuster Tanger’s Radix Partners, and Joel Greenblatt’s Gotham Asset Management.
Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as U.S. Physical Therapy, Inc. (NYSE:USPH) but similarly valued. We will take a look at Asanko Gold Inc (NYSEAMEX:AKG), Greenlight Capital Re, Ltd. (NASDAQ:GLRE), Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA), and State Bank Financial Corp (NASDAQ:STBZ). This group of stocks’ market valuations are similar to USPH’s market valuation.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| AKG | 8 | 87646 | 0 |
| GLRE | 12 | 37158 | 0 |
| MNTA | 13 | 136273 | 2 |
| STBZ | 12 | 99121 | 0 |
As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $90 million. That figure was $75 million in USPH’s case. Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) is the most popular stock in this table. On the other hand Asanko Gold Inc (NYSEAMEX:AKG) is the least popular one with only 8 bullish hedge fund positions. Compared to these stocks U.S. Physical Therapy, Inc. (NYSE:USPH) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.
Disclosure: None
