What Smart Money Thinks about Valmont Industries, Inc. (VMI)

We already know that not all hedge funds are bullish on the stock and some hedge funds actually said goodbye to their positions entirely. It’s worth mentioning that Joel Greenblatt’s Gotham Asset Management said goodbye to the largest position of the “upper crust” of funds tracked by Insider Monkey, valued at about $2.6 million in stock, and Matthew Tewksbury’s Stevens Capital Management was right behind this move, as the fund dropped about $2.1 million worth of shares.

Let’s now take a look at hedge fund activity in other stocks similar to Valmont Industries, Inc. (NYSE:VMI). These stocks are Avis Budget Group Inc. (NASDAQ:CAR), Education Realty Trust, Inc. (NYSE:EDR), NorthWestern Corp (NYSE:NWE), and American National Insurance Company (NASDAQ:ANAT). This group of stocks’ market values are similar to VMI’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 $322 million. That figure was $341 million in VMI’s case. Avis Budget Group Inc. (NASDAQ:CAR) is the most popular stock in this table. On the other hand NorthWestern Corp (NYSE:NWE) is the least popular one with only 6 bullish hedge fund positions. Valmont Industries, Inc. (NYSE:VMI) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard Avis Budget Group Inc. (NASDAQ:CAR) might be a better candidate to consider taking a long position in.

Disclosure: None