Here is What Hedge Funds Think About Heartland Express, Inc. (HTLD)

As one would reasonably expect, key money managers were breaking ground themselves. Ken Griffin’s Citadel Investment Group initiated a $5.5 million position during the quarter. The other funds with new positions in Heartland Express, Inc. (NASDAQ:HTLD) are Greg Poole’s Echo Street Capital Management, John Overdeck and David Siegel’s Two Sigma Advisors, and Ben Levine, Andrew Manuel and Stefan Renold’s LMR Partners.

Let’s also examine hedge fund activity in other stocks similar to Heartland Express, Inc. (NASDAQ:HTLD). We will take a look at NIC Inc. (NASDAQ:EGOV), Descartes Systems Group (USA) (NASDAQ:DSGX), Power Integrations Inc (NASDAQ:POWI), and Plexus Corp. (NASDAQ:PLXS). This group of stocks’ market valuations are similar to HTLD’s market valuation.

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $75 million. That figure was $66 million in HTLD’s case. Plexus Corp. (NASDAQ:PLXS) is the most popular stock in this table. On the other hand Descartes Systems Group (USA) (NASDAQ:DSGX) is the least popular one with only 4 bullish hedge fund positions. Heartland Express, Inc. (NASDAQ:HTLD) 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 PLXS might be a better candidate to consider taking a long position in.

Disclosure: None