What Hedge Funds Think About COMSCORE, Inc. (SCOR)?

Insider Monkey finished processing more than 700 13F filings made by hedge funds and prominent investors. These filings show these funds’ portfolio positions as of September 30. What do these smart investors think about COMSCORE, Inc. (NASDAQ:SCOR)?

COMSCORE, Inc. (NASDAQ:SCOR) investors should pay attention to an increase in activity from the world’s largest hedge funds of late. At the end of this article we will also compare SCOR to other stocks, including Boyd Gaming Corporation (NYSE:BYD), National General Holdings Corp (NASDAQ:NGHC), and New Relic Inc (NYSE:NEWR) to get a better sense of its popularity.

If you’d ask most stock holders, hedge funds are seen as unimportant, old financial vehicles of years past. While there are greater than 8000 funds trading at present, we choose to focus on the bigwigs of this club, about 700 funds. These investment experts handle bulk of all hedge funds’ total capital, and by keeping track of their unrivaled investments, Insider Monkey has determined a few investment strategies that have historically outstripped Mr. Market. Insider Monkey’s small-cap hedge fund strategy outstripped the S&P 500 index by 12 percentage points a year for a decade in their back tests.

With all of this in mind, let’s take a peek at the recent action regarding COMSCORE, Inc. (NASDAQ:SCOR).

How are hedge funds trading COMSCORE, Inc. (NASDAQ:SCOR)?

At the end of the third quarter, a total of 30 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 43% from the previous quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists a few key hedge fund managers who were increasing their stakes substantially (or already accumulated large positions).

When looking at the institutional investors followed by Insider Monkey, Clifford Fox’s Columbus Circle Investors has the number one position in COMSCORE, Inc. (NASDAQ:SCOR), worth close to $51.6 million, accounting for 0.4% of its total 13F portfolio. The second most bullish fund is Pivot Point Capital, managed by James A. Noonan, which holds an $38.7 million position; 17.4% of its 13F portfolio is allocated to the company. Some other members of the smart money that are bullish consist of Jim Simons’s Renaissance Technologies, Israel Englander’s Millennium Management and Brian Ashford-Russell and Tim Woolley’s Polar Capital.

With a general bullishness amongst the heavyweights, key hedge funds have jumped into COMSCORE, Inc. (NASDAQ:SCOR) headfirst. Millennium Management, managed by Israel Englander, created the most outsized position in COMSCORE, Inc. (NASDAQ:SCOR). Millennium Management had $11.2 million invested in the company at the end of the quarter. Ken Grossman and Glen Schneider’s SG Capital Management also initiated a $5 million position during the quarter. The other funds with new positions in the stock are Peter Muller’s PDT Partners, Neil Chriss’s Hutchin Hill Capital, and Millennium Management Subsidiary’s Green Arrow Capital Management.

Let’s go over hedge fund activity in other stocks similar to COMSCORE, Inc. (NASDAQ:SCOR). We will take a look at Boyd Gaming Corporation (NYSE:BYD), National General Holdings Corp (NASDAQ:NGHC), New Relic Inc (NYSE:NEWR), and Dorman Products Inc. (NASDAQ:DORM). All of these stocks’ market caps resemble SCOR’s market cap.

As you can see these stocks had an average of 18 hedge funds with bullish positions and the average amount invested in these stocks was $269 million, compared to the $178 million in SCOR’s case. Boyd Gaming Corporation (NYSE:BYD) is the most popular stock in this table with 27 funds holding stakes. Compared to these stocks COMSCORE, Inc. (NASDAQ:SCOR) 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.