Smith & Wesson Holding Corporation (SWHC): Hedge Funds Are Snapping Up

As one would reasonably expect, some big names have been driving this bullishness. Renaissance Technologies, managed by Jim Simons, created the biggest position in Smith & Wesson Holding Corporation (NASDAQ:SWHC). According to its latest 13F filing, the fund had $8.8 million invested in the company at the end of the quarter. Christopher A. Winham’s Tide Point Capital also made a $6.4 million investment in the stock during the quarter. The other funds with new positions in the stock are Robert B. Gillam’s McKinley Capital Management, David Costen Haley’s HBK Investments, and Chao Ku’s Nine Chapters Capital Management.

Let’s go over hedge fund activity in other stocks similar to Smith & Wesson Holding Corporation (NASDAQ:SWHC). We will take a look at Infinity Property and Casualty Corp. (NASDAQ:IPCC), Canadian Solar Inc. (NASDAQ:CSIQ), Repligen Corporation (NASDAQ:RGEN), and Green Dot Corporation (NYSE:GDOT). This group of stocks’ market values are closest to SWHC’s market value.

As you can see these stocks had an average of 15 hedge funds with bullish positions and the average amount invested in these stocks was $93 million. That figure was $150 million in SWHC’s case. Canadian Solar Inc. (NASDAQ:CSIQ) is the most popular stock in this table. On the other hand Infinity Property and Casualty Corp. (NASDAQ:IPCC) is the least popular one with only 8 bullish hedge fund positions. Compared to these stocks Smith & Wesson Holding Corporation (NASDAQ:SWHC) 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.