Here is What Hedge Funds Think About Kaman Corporation (KAMN)

As industrywide interest jumped, key hedge funds have jumped into Kaman Corporation (NYSE:KAMN) headfirst. Pine River Capital Management, led by Brian Taylor, established the biggest position in Kaman Corporation (NYSE:KAMN). According to regulatory filings, the fund had $0.8 million invested in the company at the end of the quarter. Israel Englander’s Millennium Management also made a $0.2 million investment in the stock during the quarter.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Kaman Corporation (NYSE:KAMN) but similarly valued. We will take a look at Standex Int’l Corp. (NYSE:SXI), Benefitfocus Inc (NASDAQ:BNFT), Medpace Holdings Inc (NASDAQ:MEDP), and Nextera Energy Partners LP (NYSE:NEP). This group of stocks’ market valuations resemble KAMN’s market valuation.

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $56 million. That figure was $223 million in KAMN’s case. Nextera Energy Partners LP (NYSE:NEP) is the most popular stock in this table. On the other hand Benefitfocus Inc (NASDAQ:BNFT) is the least popular one with only 9 bullish hedge fund positions. Kaman Corporation (NYSE:KAMN) 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 NEP might be a better candidate to consider taking a long position in.

Disclosure: None