Hedge Funds Are Crazy About Analogic Corporation (ALOG)

Consequently, specific money managers were leading the bulls’ herd. Daruma Asset Management, managed by Mariko Gordon, created the most valuable position in Analogic Corporation (NASDAQ:ALOG). Daruma Asset Management had $43.6 million invested in the company at the end of the quarter. Neil Chriss’ Hutchin Hill Capital also initiated a $1.7 million position during the quarter. The other funds with new positions in the stock are Jim Simons’s Renaissance Technologies, Crispin Odey’s Odey Asset Management Group, and Dmitry Balyasny’s Balyasny Asset Management.

Let’s also examine hedge fund activity in other stocks similar to Analogic Corporation (NASDAQ:ALOG). We will take a look at Spark Therapeutics Inc (NASDAQ:ONCE), Globant SA (NYSE:GLOB), OM Group, Inc. (NYSE:OMG), and CSG Systems International, Inc. (NASDAQ:CSGS). This group of stocks’ market valuations resemble ALOG’s market valuation.

As you can see these stocks had an average of 17 hedge funds with bullish positions and the average amount invested in these stocks was $117 million. That figure was $106 million in ALOG’s case. OM Group, Inc. (NYSE:OMG) is the most popular stock in this table. On the other hand Globant SA (NYSE:GLOB) is the least popular one with only 9 bullish hedge fund positions. Analogic Corporation (NASDAQ:ALOG) 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 OMG might be a better candidate to consider a long position.