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What Do Hedge Funds Think of AtriCure Inc. (ATRC)?

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The worries about the economic slowdown in China and the ongoing uncertainty about the path of interest-rate increases triggered several waves of equity sell-offs during the third quarter. Of course, most hedge funds and other asset managers had to stomach substantial losses during the bloody three-month period, which might have caused some to consider fleeing the U.S. equity markets. Interestingly, smaller-cap stocks registered higher losses than large-capitalization stocks during the September quarter, suggesting that institutional investors heavily discarded seemingly riskier equities amid high uncertainty and turmoil. In fact, the Russell 2000 Index lost 11.9% in the third quarter, while the Standard and Poor’s 500 benchmark declined a mere 6.4%. This article will lay out and discuss the hedge fund and institutional investor sentiment towards AtriCure Inc. (NASDAQ:ATRC).

AtriCure Inc. (NASDAQ:ATRC) investors should pay attention to an increase in hedge fund interest recently. ATRC was in 17 hedge funds’ portfolios at the end of the third quarter of 2015. There were 14 hedge funds in our database with ATRC positions at the end of the previous quarter. At the end of this article we will also compare ATRC to other stocks including Universal Health Realty Income Trust (NYSE:UHT), Fox Factory Holding Corp (NASDAQ:FOXF), and Community Trust Bancorp, Inc. (NASDAQ:CTBI) to get a better sense of its popularity.

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With all of this in mind, we’re going to check out the recent action regarding AtriCure Inc. (NASDAQ:ATRC).

How are hedge funds trading AtriCure Inc. (NASDAQ:ATRC)?

At Q3’s end, a total of 17 of the hedge funds tracked by Insider Monkey were long this stock, a change of 21% from the previous quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists a select group of notable hedge fund managers who were upping their stakes considerably (or already accumulated large positions).

According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Columbus Circle Investors has the number one position in AtriCure Inc. (NASDAQ:ATRC), worth close to $21.7 million, corresponding to 0.2% of its total 13F portfolio. Coming in second is Adage Capital Management, managed by Phill Gross and Robert Atchinson, which holds a $21.1 million position; 0.1% of its 13F portfolio is allocated to the company. Some other professional money managers that are bullish encompass Israel Englander’s Millennium Management, Justin John Ferayorni’s Tamarack Capital Management and Richard Driehaus’s Driehaus Capital.

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