Is Briggs & Stratton Corporation (BGG) Going to Burn These Hedge Funds?

Consequently, some big names have been driving this bullishness. Jim Simons’ Renaissance Technologies assembled the most outsized position in Briggs & Stratton Corporation (NYSE:BGG). Renaissance Technologies had $2.7 million invested in the company at the end of the quarter. Mark Coe’s Coe Capital Management also initiated a $0.9 million position during the quarter. The only other fund with a brand new BGG position is George Hall’s Clinton Group.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Briggs & Stratton Corporation (NYSE:BGG) but similarly valued. These stocks are American Railcar Industries, Inc. (NASDAQ:ARII), Aduro BioTech Inc (NASDAQ:ADRO), Veritiv Corp (NYSE:VRTV), and Denny’s Corporation (NASDAQ:DENN). All of these stocks’ market caps match BGG’s market cap.

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $195 million. That figure was $95 million in BGG’s case. American Railcar Industries, Inc. (NASDAQ:ARII) is the most popular stock in this table. On the other hand Aduro BioTech Inc (NASDAQ:ADRO) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks Briggs & Stratton Corporation (NYSE:BGG) 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.

Disclosure: None