Do Hedge Funds Love Herman Miller, Inc. (MLHR)?

As aggregate interest increased, key hedge funds were leading the bulls’ herd. SG Capital Management, managed by Ken Grossman and Glen Schneider, established the most outsized position in Herman Miller, Inc. (NASDAQ:MLHR). SG Capital Management had $16.3 million invested in the company at the end of the quarter. Mark Coe’s Coe Capital Management also initiated a $1.4 million position during the quarter. The following funds were also among the new MLHR investors: Ken Brodkowitz and Mike Vermut’s Newland Capital, Peter Algert and Kevin Coldiron’s Algert Coldiron Investors, and Chao Ku’s Nine Chapters Capital Management.

Let’s now review hedge fund activity in other stocks similar to Herman Miller, Inc. (NASDAQ:MLHR). We will take a look at Zendesk Inc (NYSE:ZEN), DineEquity Inc (NYSE:DIN), ICU Medical, Incorporated (NASDAQ:ICUI), and EXACT Sciences Corporation (NASDAQ:EXAS). This group of stocks’ market valuations resembles Herman Miller, Inc. (NASDAQ:MLHR)’s market valuation.

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 $209 million. That figure was $127 million in Herman Miller, Inc. (NASDAQ:MLHR)’s case. Zendesk Inc (NYSE:ZEN) is the most popular stock in this table. On the other hand, DineEquity Inc (NYSE:DIN) is the least popular one with only 17 bullish hedge fund positions. Compared to these stocks, Herman Miller, Inc. (NASDAQ:MLHR) 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.