Rayonier Advanced Materials Inc (RYAM): Are Hedge Funds Right About This Stock?

As aggregate interest increased, key hedge funds have been driving this bullishness. BlueCrest Capital Mgmt. initiated the most outsized position in Rayonier Advanced Materials Inc (NYSE:RYAM). BlueCrest Capital Mgmt. had $8.6 million invested in the company at the end of the quarter. Angelo Gordon & Co also initiated a $7.3 million position during the quarter. The following funds were also among the new RYAM investors: Andy Redleaf’s Whitebox Advisors, Bart Baum’s Ionic Capital Management, and Peter Algert and Kevin Coldiron’s Algert Coldiron Investors.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Rayonier Advanced Materials Inc (NYSE:RYAM) but similarly valued. These stocks are Virtus Investment Partners Inc (NASDAQ:VRTS), CTS Corporation (NYSE:CTS), ePlus Inc. (NASDAQ:PLUS), and Fiesta Restaurant Group Inc (NASDAQ:FRGI). This group of stocks’ market valuations are similar to RYAM’s market valuation.

As you can see these stocks had an average of 11.5 hedge funds with bullish positions and the average amount invested in these stocks was $82 million. That figure was $107 million in RYAM’s case. Fiesta Restaurant Group Inc (NASDAQ:FRGI) is the most popular stock in this table. On the other hand CTS Corporation (NYSE:CTS) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Rayonier Advanced Materials Inc (NYSE:RYAM) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers and growing fonder still, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None