Hedge Funds Are Betting On ArcBest Corp (ARCB)

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As industrywide interest jumped, key money managers have been driving this bullishness. Folger Hill Asset Management, led by Solomon Kumin, assembled the most outsized position in ArcBest Corp (NASDAQ:ARCB). Folger Hill Asset Management had $2.9 million invested in the company at the end of the quarter. Ken Grossman and Glen Schneider’s SG Capital Management also made a $1.9 million investment in the stock during the quarter. The other funds with brand new ARCB positions are Ken Griffin’s Citadel Investment Group, and D E Shaw.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as ArcBest Corp (NASDAQ:ARCB) but similarly valued. These stocks are PJT Partners Inc (NYSE:PJT), Bazaarvoice Inc (NASDAQ:BV), Unisys Corporation (NYSE:UIS), and Kimball International Inc (NASDAQ:KBAL). This group of stocks’ market caps resemble ARCB’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
PJT 10 141761 -4
BV 24 145630 7
UIS 20 71205 2
KBAL 9 45248 0

As you can see these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $101 million. That figure was $27 million in ARCB’s case. Bazaarvoice Inc (NASDAQ:BV) is the most popular stock in this table. On the other hand Kimball International Inc (NASDAQ:KBAL) is the least popular one with only 9 bullish hedge fund positions. ArcBest Corp (NASDAQ:ARCB) 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 BV might be a better candidate to consider taking a long position in.

Disclosure: None


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