Hedge Funds Are Betting On Hyster-Yale Materials Handling Inc (HY)

As aggregate interest increased, specific money managers were breaking ground themselves. Highbridge Capital Management, led by Glenn Russell Dubin, assembled the biggest position in Hyster-Yale Materials Handling Inc (NYSE:HY). Highbridge Capital Management had $0.5 million invested in the company at the end of the quarter. Matthew Hulsizer’s PEAK6 Capital Management also made a $0.2 million investment in the stock during the quarter. The only other fund with a brand new HY position is PEAK6 Capital Management.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Hyster-Yale Materials Handling Inc (NYSE:HY) but similarly valued. We will take a look at Golub Capital BDC Inc (NASDAQ:GBDC), Boise Cascade Co (NYSE:BCC), Grupo Supervielle SA -ADR (NYSE:SUPV), and Marcus & Millichap Inc (NYSE:MMI). This group of stocks’ market caps are similar to HY’s market cap.

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $88 million. That figure was $39 million in HY’s case. Boise Cascade Co (NYSE:BCC) is the most popular stock in this table. On the other hand Golub Capital BDC Inc (NASDAQ:GBDC) is the least popular one with only 7 bullish hedge fund positions. Hyster-Yale Materials Handling Inc (NYSE:HY) 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 BCC might be a better candidate to consider taking a long position in.

Disclosure: None