Hedge Funds Are Buying Brooks Automation, Inc (BRKS)

With a general bullishness amongst the heavyweights, key hedge funds were leading the bulls’ herd. Rima Senvest Management, led by Richard Mashaal, created the biggest position in Brooks Automation, Inc (NASDAQ:BRKS). According to regulatory filings, the fund had $1.9 million invested in the company at the end of the quarter. Gregory Fraser, Rudolph Kluiber, and Timothy Krochuk’s GRT Capital Partners also made a $0.6 million investment in the stock during the quarter. The other funds with new positions in the stock are Glenn Russell Dubin’s Highbridge Capital Management and Mike Vranos’s Ellington.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Brooks Automation, Inc (NASDAQ:BRKS) but similarly valued. We will take a look at HudBay Minerals Inc Ord Shs (NYSE:HBM), Himax Technologies, Inc. (ADR) (NASDAQ:HIMX), ADTRAN, Inc. (NASDAQ:ADTN), and 1st Source Corporation (NASDAQ:SRCE). This group of stocks’ market valuations match BRKS’s market valuation.

As you can see these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $82 million. That figure was $54 million in BRKS’s case. Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) is the most popular stock in this table. On the other hand 1st Source Corporation (NASDAQ:SRCE) is the least popular one with only 7 bullish hedge fund positions. Brooks Automation, Inc (NASDAQ:BRKS) 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 HIMX might be a better candidate to consider taking a long position in.

Disclosure: none.