Consequently, key money managers have jumped into Corelogic Inc (NYSE:CLGX) headfirst. Portolan Capital Management, managed by George McCabe, created the most outsized position in Corelogic Inc (NYSE:CLGX). Portolan Capital Management had $5.1 million invested in the company at the end of the quarter. Steve Cohen’s Point72 Asset Management also initiated a $1.5 million position during the quarter. The following funds were also among the new CLGX investors: Andrew Feldstein and Stephen Siderow’s Blue Mountain Capital, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, and George Hall’s Clinton Group.
Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Corelogic Inc (NYSE:CLGX) but similarly valued. These stocks are ENSCO PLC (NYSE:ESV), First Horizon National Corporation (NYSE:FHN), AngloGold Ashanti Limited (ADR) (NYSE:AU), and American Capital Ltd. (NASDAQ:ACAS). This group of stocks’ market values match CLGX’s market value.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| ESV | 29 | 297553 | 7 |
| FHN | 16 | 166123 | -2 |
| AU | 15 | 495127 | -3 |
| ACAS | 36 | 1095174 | -2 |
As you can see these stocks had an average of 24 hedge funds with bullish positions and the average amount invested in these stocks was $513 million. That figure was $375 million in CLGX’s case. American Capital Ltd. (NASDAQ:ACAS) is the most popular stock in this table. On the other hand AngloGold Ashanti Limited (ADR) (NYSE:AU) is the least popular one with only 15 bullish hedge fund positions. Corelogic Inc (NYSE:CLGX) 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 ACAS might be a better candidate to consider a long position.
