How Do Hedge Funds Feel About Cardtronics, Inc. (CATM)?

With a general bullishness amongst the heavyweights, some big names were leading the bulls’ herd. Renaissance Technologies initiated the most valuable position in Cardtronics, Inc. (NASDAQ:CATM), followed by Glenn Russell Dubin’s Highbridge Capital Management, which also made a $3.2 million investment in the stock during the quarter. The other funds with new positions in the stock are Nick Niell’s Arrowgrass Capital Partners, Neil Chriss’s Hutchin Hill Capital, and Dmitry Balyasny’s Balyasny Asset Management.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Cardtronics, Inc. (NASDAQ:CATM) but similarly valued. We will take a look at Mattress Firm Holding Corp (NASDAQ:MFRM), Joy Global Inc. (NYSE:JOY), Loral Space & Communications Ltd. (NASDAQ:LORL), and Abercrombie & Fitch Co. (NYSE:ANF). This group of stocks’ market valuations match CATM’s market valuation.

As you can see these stocks had an average of 22 hedge funds with bullish positions and the average amount invested in these stocks was $406 million. That figure was $57 million in CATM’s case. Joy Global Inc. (NYSE:JOY) is the most popular stock in this table with 28 long positions, while Mattress Firm Holding Corp (NASDAQ:MFRM) is the least popular one with only 13 bullish hedge fund positions. Cardtronics, Inc. (NASDAQ:CATM) 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 JOY might be a better candidate to consider a long position.