Thor Industries, Inc. (THO): Are Hedge Funds Right About This Stock?

As one would reasonably expect, specific money managers have jumped into Thor Industries, Inc. (NYSE:THO) headfirst. Jim Simons’ Renaissance Technologies created the most outsized position in Thor Industries, Inc. (NYSE:THO). Renaissance Technologies had $31 million invested in the company at the end of the quarter. Anand Parekh’s Alyeska Investment Group also initiated a $10.7 million position during the quarter. The following funds were also among the new THO investors: Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, Paul Marshall and Ian Wace’s Marshall Wace LLP, and D. E. Shaw’s D E Shaw.

Let’s check out hedge fund activity in other stocks similar to Thor Industries, Inc. (NYSE:THO). These stocks are Ionis Pharmaceuticals Inc (NASDAQ:IONS), LATAM Airlines Group SA (ADR) (NYSE:LFL), Endurance Specialty Holdings Ltd. (NYSE:ENH), and Eaton Vance Corp (NYSE:EV). All of these stocks’ market caps are closest to THO’s market cap.

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 $141 million. That figure was $318 million in THO’s case. Ionis Pharmaceuticals Inc (NASDAQ:IONS) is the most popular stock in this table. On the other hand LATAM Airlines Group SA (ADR) (NYSE:LFL) is the least popular one with only 8 bullish hedge fund positions. Compared to these stocks Thor Industries, Inc. (NYSE:THO) 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