Hedge Funds Are Crazy About TRC Companies, Inc. (TRR)

With a general bullishness amongst the heavyweights, key money managers were leading the bulls’ herd. Algert Coldiron Investors assembled the biggest position in TRC Companies, Inc. (NYSE:TRR). Algert Coldiron Investors had $2.1 million invested in the company at the end of the quarter. John Overdeck and David Siegel’s Two Sigma Advisors also initiated a $0.2 million position during the quarter. The other funds with new positions in the stock are Mike Vranos’ Ellington, and Neil Chriss’ Hutchin Hill Capital.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as TRC Companies, Inc. (NYSE:TRR) but similarly valued. These stocks are MarineMax, Inc. (NYSE:HZO), Caretrust REIT Inc (NASDAQ:CTRE), Renewable Energy Group Inc (NASDAQ:REGI), and Park Electrochemical Corp. (NYSE:PKE). This group of stocks’ market caps matches TRC Companies, Inc. (NYSE:TRR)’s market cap.

As you can see, these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $50 million. That figure was $39 million in TRC Companies, Inc. (NYSE:TRR)’s case. MarineMax, Inc. (NYSE:HZO) is the most popular stock in this table. On the other hand, Park Electrochemical Corp. (NYSE:PKE) is the least popular one with only 7 bullish hedge fund positions. TRC Companies, Inc. (NYSE:TRR) 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, MarineMax, Inc. (NYSE:HZO) might be a better candidate to consider a long position.