Resources Connection, Inc. (RECN): Are Hedge Funds Right About This Stock?

Consequently, specific money managers were breaking ground themselves. Highbridge Capital Management, led by Glenn Russell Dubin, assembled the most valuable position in Resources Connection, Inc. (NASDAQ:RECN). Highbridge Capital Management had $0.4 million invested in the company at the end of the quarter. James Dondero’s Highland Capital Management also made a $0.3 million investment in the stock during the quarter. The following funds were also among the new RECN investors: Neil Chriss’ Hutchin Hill Capital and David Costen Haley’s HBK Investments.

Let’s also examine hedge fund activity in other stocks similar to Resources Connection, Inc. (NASDAQ:RECN). We will take a look at Hemisphere Media Group Inc (NASDAQ:HMTV), Bryn Mawr Bank Corp. (NASDAQ:BMTC), Triple-S Management Corp.(NYSE:GTS), and Bellicum Pharmaceuticals Inc (NASDAQ:BLCM). This group of stocks’ market valuations are similar to RECN’s market valuation.

As you can see these stocks had an average of eight funds with bullish positions and the average amount invested in these stocks was $74 million. That figure was $63 million in RECN’s case. Bryn Mawr Bank Corp. (NASDAQ:BMTC) is the most popular stock in this table. On the other hand Bellicum Pharmaceuticals Inc (NASDAQ:BLCM) is the least popular one with only three bullish hedge fund positions. Compared to these stocks Resources Connection, Inc. (NASDAQ:RECN) 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