Hedge Funds Are Buying Sterling Construction Company, Inc. (STRL)

Consequently, key money managers were leading the bulls’ herd. Nantahala Capital Management, led by Wilmot B. Harkey and Daniel Mack, created the most outsized position in Sterling Construction Company, Inc. (NASDAQ:STRL). Nantahala Capital Management had $1 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 only other fund with a brand new STRL position is Israel Englander’s Millennium Management.

Let’s now take a look at hedge fund activity in other stocks similar to Sterling Construction Company, Inc. (NASDAQ:STRL). These stocks are Lifetime Brands Inc (NASDAQ:LCUT), Asterias Biotherapeutics Inc (NYSEMKT:AST), Autobytel Inc. (NASDAQ:ABTL), and Global Partner Acquisition Corp. (NASDAQ:GPAC). This group of stocks’ market caps are closest to STRL’s market cap.

As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $29 million. That figure was $10 million in STRL’s case. Autobytel Inc. (NASDAQ:ABTL) is the most popular stock in this table. On the other hand Lifetime Brands Inc (NASDAQ:LCUT) is the least popular one with only 3 bullish hedge fund positions. Sterling Construction Company, Inc. (NASDAQ:STRL) 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 ABTL might be a better candidate to consider taking a long position in.

Disclosure: None