Is Integer Holdings Corporation (ITGR) Going to Burn These Hedge Funds?

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As one would reasonably expect, key hedge funds have been driving this bullishness. Fisher Asset Management initiated the most valuable position in Integer Holdings Corporation (NYSE:ITGR). Joel Greenblatt’s Gotham Asset Management also initiated a $1.3 million position during the quarter. The other funds with new positions in the stock are Jim Simons’ Renaissance Technologies and Paul Tudor Jones’ Tudor Investment Corp.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Integer Holdings Corporation (NYSE:ITGR) but similarly valued. These stocks are Blackstone / GSO Strategic Credit Fund (NYSE:BGB), Koppers Holdings Inc. (NYSE:KOP), Novadaq Technologies Inc. (NASDAQ:NVDQ), and Eldorado Resorts Inc (NASDAQ:ERI). This group of stocks’ market caps are closest to ITGR’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
BGB 5 60767 1
KOP 16 59414 2
NVDQ 9 81711 1
ERI 22 207294 0

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 $102 million. That figure was $74 million in ITGR’s case. Eldorado Resorts Inc (NASDAQ:ERI) is the most popular stock in this table. On the other hand Blackstone / GSO Strategic Credit Fund (NYSE:BGB) is the least popular one with only 5 bullish hedge fund positions. Integer Holdings Corporation (NYSE:ITGR) 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 ERI might be a better candidate to consider taking a long position in.

Disclosure: None

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