Here Is What Hedge Funds Think About Tech Data Corp (TECD)

As industrywide interest jumped, specific money managers were breaking ground themselves. Alyeska Investment Group, managed by Anand Parekh, initiated the most valuable position in Tech Data Corp (NASDAQ:TECD). Alyeska Investment Group had $7.2 million invested in the company at the end of the quarter. Peter Muller’s PDT Partners also initiated a $2.4 million position during the quarter. The following funds were also among the new TECD investors: Peter Algert and Kevin Coldiron’s Algert Coldiron Investors, Joseph A. Jolson’s Harvest Capital Strategies, and John Overdeck and David Siegel’s Two Sigma Advisors.

Let’s now review hedge fund activity in other stocks similar to Tech Data Corp (NASDAQ:TECD). We will take a look at AMAYA INC (NASDAQ:AYA), Healthcare Services Group, Inc. (NASDAQ:HCSG), Energizer Holdings, Inc. (NYSE:ENR), and Sears Holdings Corporation (NASDAQ:SHLD). This group of stocks’ market valuations are closest to TECD’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 $675 million. That figure was $195 million in TECD’s case. Energizer Holdings, Inc. (NYSE:ENR) is the most popular stock in this table. On the other hand Healthcare Services Group, Inc. (NASDAQ:HCSG) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks Tech Data Corp (NASDAQ:TECD) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.