Here Is What Hedge Funds Think About Brady Corp (BRC)

As one would reasonably expect, specific money managers have been driving this bullishness. Ellington, led by Mike Vranos, assembled the biggest position in Brady Corp (NYSE:BRC). Ellington had $0.3 million invested in the company at the end of the quarter. Matthew Hulsizer’s PEAK6 Capital Management also made a $0.3 million investment in the stock during the quarter.

Let’s check out hedge fund activity in other stocks similar to Brady Corp (NYSE:BRC). We will take a look at VeriFone Systems Inc (NYSE:PAY), Wix.Com Ltd (NASDAQ:WIX), Theravance Biopharma Inc (NASDAQ:TBPH), and RingCentral Inc (NYSE:RNG). All of these stocks’ market caps are similar to BRC’s market cap.

As you can see these stocks had an average of 20 hedge funds with bullish positions and the average amount invested in these stocks was $343 million. That figure was $224 million in BRC’s case. RingCentral Inc (NYSE:RNG) is the most popular stock in this table. On the other hand Theravance Biopharma Inc (NASDAQ:TBPH) is the least popular one with only 12 bullish hedge fund positions. Brady Corp (NYSE:BRC) 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 RNG might be a better candidate to consider taking a long position in.

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Disclosure: None