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Analogic Corporation (ALOG): Are Hedge Funds Right About This Stock?

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A whopping number of 13F filings filed with U.S. Securities and Exchange Commission has been processed by Insider Monkey so that individual investors can look at the overall hedge fund sentiment towards the stocks included in their watchlists. These freshly-submitted public filings disclose money managers’ equity positions as of the end of the three-month period that ended September 30, so let’s proceed with the discussion of the hedge fund sentiment on Analogic Corporation (NASDAQ:ALOG) .

Analogic Corporation (NASDAQ:ALOG) has seen a decrease in support from the world’s most successful money managers in recent months. ALOG was in 9 hedge funds’ portfolios at the end of September. There were 11 hedge funds in our database with ALOG positions at the end of the previous quarter. At the end of this article we will also compare ALOG to other stocks including McEwen Mining Inc (NYSE:MUX), NuStar GP Holdings, LLC (NYSE:NSH), and Comfort Systems USA, Inc. (NYSE:FIX) to get a better sense of its popularity.

At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 18% gains over the past 12 months, more than doubling the 8% returns enjoyed by the S&P 500 ETFs.

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Now, we’re going to analyze the new action surrounding Analogic Corporation (NASDAQ:ALOG).

What have hedge funds been doing with Analogic Corporation (NASDAQ:ALOG)?

At Q3’s end, a total of 9 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of -18% from the second quarter of 2016. The graph below displays the number of hedge funds with bullish position in ALOG over the last 5 quarters. So, let’s examine which hedge funds were among the top holders of the stock and which hedge funds were making big moves.

HedgeFundSentimentChart

When looking at the institutional investors followed by Insider Monkey, Chuck Royce’s Royce & Associates has the most valuable position in Analogic Corporation (NASDAQ:ALOG), worth close to $52.2 million. The second most bullish fund manager is Mariko Gordon of Daruma Asset Management which holds a $36.9 million position; 2.3% of its 13F portfolio is allocated to the stock. Remaining hedge funds and institutional investors with similar optimism contain Joel Greenblatt’s Gotham Asset Management, Cliff Asness’ AQR Capital Management and Ken Griffin’s Citadel Investment Group. We should note that none of these hedge funds are among our list of the 100 best performing hedge funds which is based on the performance of their 13F long positions in non-microcap stocks.

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