American Woodmark Corporation (AMWD): What Smart Money Thinks about This Stock?

On the other hand, some investors opted to cut their entire stakes during the third quarter. Ken Griffin’s Citadel Investment Group cashed in the biggest investment of the 700 funds tracked by Insider Monkey, comprising close to $8 million in stock, and Paul Marshall and Ian Wace’s Marshall Wace LLP was right behind this move, as the fund sold off about $3.8 million worth of shares.

Let’s go over hedge fund activity in other stocks similar to American Woodmark Corporation (NASDAQ:AMWD). We will take a look at Community Health Systems (NYSE:CYH), Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM), Forward Air Corporation (NASDAQ:FWRD), and Globalstar, Inc. (PINK:GSAT). All of these stocks’ market caps are similar to AMWD’s market cap.

As you can see these stocks had an average of 24 funds with bullish positions and the average amount invested in these stocks was $192 million. That figure was $135 million in AMWD’s case. Community Health Systems (NYSE:CYH) is the most popular stock in this table. On the other hand Forward Air Corporation (NASDAQ:FWRD) is the least popular one with only 16 bullish hedge fund positions. Compared to these stocks American Woodmark Corporation (NASDAQ:AMWD) is even less popular than Forward Air Corporation (NASDAQ:FWRD). Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.

Disclosure: none