Is Ruby Tuesday, Inc. (RT) a Good Buy?

Now, some big names have jumped into Ruby Tuesday, Inc. (NYSE:RT) headfirst. AQR Capital Management, managed by Cliff Asness, assembled the biggest position in Ruby Tuesday, Inc. (NYSE:RT). AQR Capital Management had $0.6 million invested in the company at the end of the quarter. Chao Ku’s Nine Chapters Capital Management also initiated a $0.4 million position during the quarter. The only other fund with a new position in the stock is Dmitry Balyasny’s Balyasny Asset Management.

Let’s now take a look at hedge fund activity in other stocks similar to Ruby Tuesday, Inc. (NYSE:RT). We will take a look at Peabody Energy Corporation (NYSE:BTU), Oriental Financial Group Inc. (NYSE:OFG), CEVA, Inc. (NASDAQ:CEVA), and Sanchez Energy Corp (NYSE:SN). This group of stocks’ market caps match RT’s market cap.

As you can see these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $48 million. That figure was $47 million in RT’s case. Peabody Energy Corporation (NYSE:BTU) is the most popular stock in this table. On the other hand CEVA, Inc. (NASDAQ:CEVA) is the least popular one with only 11 bullish hedge fund positions. Compared to these stocks Ruby Tuesday, Inc. (NYSE:RT) 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.