Should You Buy PGT, Inc. (PGTI)? Find Out What Hedge Funds Have To Say

With general bullishness amongst the heavyweights, key hedge funds were breaking ground themselves. Citadel Investment Group, led by Ken Griffin, created the most outsized position in PGT, Inc. (NASDAQ:PGTI). Citadel Investment Group had $0.4 million invested in the company at the end of the quarter. Matthew Tewksbury’s Stevens Capital Management also initiated a $0.3 million position during the quarter. The other funds with new positions in the stock are John Osterweis’ Osterweis Capital Management and Mike Vranos’ Ellington.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as PGT, Inc. (NASDAQ:PGTI) but similarly valued. We will take a look at Chromcraft Revington, Inc. (NYSEAMEX:CRC), Ennis, Inc. (NYSE:EBF), Momo Inc (ADR) (NASDAQ:MOMO), and Movado Group, Inc (NYSE:MOV). This group of stocks’ market valuations match PGTI’s market valuation.

As you can see these stocks had an average of 20 hedge funds with bullish positions and the average amount invested in these stocks was $124 million. That figure was $73 million in PGTI’s case. Chromcraft Revington, Inc. (NYSEAMEX:CRC) is the most popular stock in this table. On the other hand Ennis, Inc. (NYSE:EBF) is the least popular one with only 13 bullish hedge fund positions. PGT, Inc. (NASDAQ:PGTI) 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 CRC might be a better candidate to consider taking a long position in.

Disclosure: None