Is Columbia Sportswear Company (COLM) A Good Stock To Buy?

As industrywide interest jumped, some big names have jumped into Columbia Sportswear Company (NASDAQ:COLM) headfirst. Columbus Circle Investors, managed by Clifford Fox, created the biggest position in Columbia Sportswear Company (NASDAQ:COLM). Columbus Circle Investors had $18.3 million invested in the company at the end of the quarter. Robert Joseph Caruso’s Select Equity Group also initiated a $6 million position during the quarter. The following funds were also among the new COLM investors: Chao Ku’s Nine Chapters Capital Management, Ray Dalio’s Bridgewater Associates, and Paul Tudor Jones’s Tudor Investment Corp.

Let’s go over hedge fund activity in other stocks similar to Columbia Sportswear Company (NASDAQ:COLM). We will take a look at Diamondback Energy Inc (NASDAQ:FANG), Teradata Corporation (NYSE:TDC), Weingarten Realty Investors (NYSE:WRI), and Visteon Corp (NYSE:VC). This group of stocks’ market caps are similar to COLM’s market cap.

As you can see these stocks had an average of 32.25 hedge funds with bullish positions and the average amount invested in these stocks was $781 million. That figure was $142 million in COLM’s case. Visteon Corp (NYSE:VC) is the most popular stock in this table. On the other hand Weingarten Realty Investors (NYSE:WRI) is the least popular one with only 13 bullish hedge fund positions. Columbia Sportswear Company (NASDAQ:COLM) is not the least popular stock in this group but hedge fund interest is still below average. We like the fact that several hedge funds initiated brand new positions but, overall, hedge funds still don’t think COLM is attractively priced (though we might see a different picture in February). For now we’d rather spend our time researching stocks that hedge funds are piling on. In this regard VC might be a better candidate to consider a long position.