Do Hedge Funds Love Landstar System, Inc. (LSTR)?

As aggregate interest increased, some big names were breaking ground themselves. Jim Simons’ Renaissance Technologies initiated the biggest position in Landstar System, Inc. (NASDAQ:LSTR). The fund reportedly had $4.5 million invested in the company at the end of the quarter. Paul Marshall and Ian Wace’s Marshall Wace LLP also made a $4.1 million investment in the stock during the quarter. The other funds with new positions in the stock are Brian Taylor’s Pine River Capital Management and Benjamin A. Smith’s Laurion Capital Management.

Let’s also examine hedge fund activity in other stocks similar to Landstar System, Inc. (NASDAQ:LSTR). These stocks are Vista Outdoor Inc (NYSE:VSTO), XPO Logistics Inc (NYSE:XPO), National Health Investors Inc (NYSE:NHI), and American Eagle Outfitters (NYSE:AEO). This group of stocks’ market values resemble LSTR’s market value.

As you can see these stocks had an average of 21 hedge funds with bullish positions and the average amount invested in these stocks was $444 million. That figure was $179 million in LSTR’s case. American Eagle Outfitters (NYSE:AEO) is the most popular stock in this table. On the other hand National Health Investors Inc (NYSE:NHI) is the least popular one with only 10 bullish hedge fund positions. Landstar System, Inc. (NASDAQ:LSTR) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard AEO might be a better candidate to consider taking a long position in.

Disclosure: none.