Old Copper Co. Inc. (f/k/a CPPRQ/JCPNQ JC Penney)

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More Wealthy Hedge Funds Buying J C Penney Company Inc (JCP)

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J C Penney Company Inc (NYSE:JCP) was in 32 hedge funds’ portfolios at the end of the third quarter of 2016. JCP investors should pay attention to an increase in activity from the world’s largest hedge funds lately. There were 28 hedge funds in our database with JCP positions at the end of the previous quarter. At the end of this article we will also compare JCP to other stocks including Beacon Roofing Supply, Inc. (NASDAQ:BECN), MFA Financial, Inc. (NYSE:MFA), and Primerica, Inc. (NYSE:PRI) to get a better sense of its popularity...

Hedge fund activity in J C Penney Company Inc (NYSE:JCP)

At the end of the third quarter, a total of 32 of the hedge funds tracked by Insider Monkey were bullish on this stock, a 14% increase from the second quarter of 2016. With the smart money’s sentiment swirling, there exists a few notable hedge fund managers who were upping their holdings substantially (or already accumulated large positions).

Of the funds tracked by Insider Monkey, Jim Simons’ Renaissance Technologies has the number one position in J C Penney Company Inc (NYSE:JCP), worth close to $124.8 million. The second largest stake is held by Ken Griffin of Citadel Investment Group, with a $68.7 million position. Remaining professional money managers that are bullish comprise David Costen Haley’s HBK Investments, Israel Englander’s Millennium Management and Anand Parekh’s Alyeska Investment Group.

As one would reasonably expect, some big names have jumped into J C Penney Company Inc (NYSE:JCP) headfirst. Millennium Management assembled the most valuable position in J C Penney Company Inc (NYSE:JCP). Millennium Management had $35.7 million invested in the company at the end of the quarter. Alyeska Investment Group also made a $32.9 million investment in the stock during the quarter. The other funds with brand new JCP positions are Ken Grossman and Glen Schneider’s SG Capital Management, Ray Dalio’s Bridgewater Associates, and Peter Muller’s PDT Partners...."