Do Hedge Funds Love J.B. Hunt Transport Services Inc (JBHT)?

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As industrywide interest jumped, some big names have jumped into J.B. Hunt Transport Services Inc (NASDAQ:JBHT) headfirst. Hitchwood Capital Management established the biggest position in J.B. Hunt Transport Services Inc (NASDAQ:JBHT). Malcolm Fairbairn’s Ascend Capital also initiated a $16.3 million position during the quarter. The other funds with brand new JBHT positions are Jonathan Barrett and Paul Segal’s Luminus Management, Solomon Kumin’s Folger Hill Asset Management, and Michael Platt and William Reeves’s BlueCrest Capital Mgmt..

Let’s check out hedge fund activity in other stocks similar to J.B. Hunt Transport Services Inc (NASDAQ:JBHT). These stocks are ResMed Inc. (NYSE:RMD), LG Display Co Ltd. (ADR) (NYSE:LPL), Garmin Ltd. (NASDAQ:GRMN), and Tiffany & Co. (NYSE:TIF). This group of stocks’ market caps match JBHT’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
RMD 17 204914 2
LPL 12 46029 -1
GRMN 25 212834 8
TIF 33 497053 7

As you can see these stocks had an average of 22 funds with bullish positions and the average amount invested in these stocks was $240 million. That figure was $353 million in JBHT’s case. Tiffany & Co. (NYSE:TIF) is the most popular stock in this table. On the other hand LG Display Co Ltd. (ADR) (NYSE:LPL) is the least popular one with only 12 bullish hedge fund positions. J.B. Hunt Transport Services Inc (NASDAQ:JBHT) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard Tiffany & Co. (NYSE:TIF) might be a better candidate to consider taking a long position in.

Disclosure: none

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