Hedge Funds Are Betting On Gentex Corporation (GNTX)

Now, some big names were breaking ground themselves. Arrowstreet Capital created the biggest position in Gentex Corporation (NASDAQ:GNTX). Renaissance Technologies also made an $8.6 million investment in the stock during the quarter. The other funds with new positions in the stock are Leighton Welch’s Welch Capital Partners, Mike Vranos’ Ellington, and Richard Driehaus’ Driehaus Capital.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Gentex Corporation (NASDAQ:GNTX) but similarly valued. We will take a look at EPR Properties (NYSE:EPR), Watsco Inc (NYSE:WSO), Post Holdings Inc (NYSE:POST), and Piedmont Natural Gas Company, Inc. (NYSE:PNY). This group of stocks’ market caps are similar to GNTX’s market cap.

As you can see these stocks had an average of 23 hedge funds with bullish positions and the average amount invested in these stocks was $528 million. That figure was $226 million in GNTX’s case. Post Holdings Inc (NYSE:POST) is the most popular stock in this table. On the other hand Piedmont Natural Gas Company, Inc. (NYSE:PNY) is the least popular one with only 9 bullish hedge fund positions. Gentex Corporation (NASDAQ:GNTX) 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 POST might be a better candidate to consider taking a long position in.

Disclosure: None