Do Hedge Funds Love Viad Corp (VVI)?

Consequently, specific money managers were leading the bulls’ herd. Millennium Management, managed by Israel Englander, initiated the most outsized position in Viad Corp (NYSE:VVI). Millennium Management had $0.7 million invested in the company at the end of the quarter. Peter Algert and Kevin Coldiron’s Algert Coldiron Investors also made a $0.5 million investment in the stock during the quarter. The other funds with new positions in the stock are Joel Greenblatt’s Gotham Asset Management, David Costen Haley’s HBK Investments, and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Viad Corp (NYSE:VVI) but similarly valued. These stocks are ConnectOne Bancorp Inc (NASDAQ:CNOB), Nevsun Resources (USA) (NYSEMKT:NSU), Sequential Brands Group Inc (NASDAQ:SQBG), and CONE Midstream Partners LP (NYSE:CNNX). All of these stocks’ market caps are closest to VVI’s market cap.

As you can see these stocks had an average of 9 hedge funds with bullish positions and the average amount invested in these stocks was $29 million. That figure was $85 million in VVI’s case. Nevsun Resources (USA) (NYSEMKT:NSU) is the most popular stock in this table. On the other hand CONE Midstream Partners LP (NYSE:CNNX) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Viad Corp (NYSE:VVI) 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.