Consequently, key money managers were leading the bulls’ herd. Millennium Management created the most valuable position in Ameresco Inc (NYSE:AMRC). Millennium Management had $0.2 million invested in the company at the end of the quarter.
Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Ameresco Inc (NYSE:AMRC) but similarly valued. We will take a look at CTC Media, Inc. (NASDAQ:CTCM), Heritage Oaks Bancorp (NASDAQ:HEOP), Northern Oil & Gas, Inc. (NYSEMKT:NOG), and Synutra International, Inc. (NASDAQ:SYUT). This group of stocks’ market values are closest to Ameresco Inc (NYSE:AMRC)’s market value.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see, these stocks had an average of 6 hedge funds with bullish positions and the average amount invested in these stocks was $19 million. That figure was $10 million in Ameresco Inc (NYSE:AMRC)’s case. Northern Oil & Gas, Inc. (NYSEMKT:NOG) is the most popular stock in this table. On the other hand, Heritage Oaks Bancorp (NASDAQ:HEOP) is the least popular one with only 4 bullish hedge fund positions. Ameresco Inc (NYSE:AMRC) 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, Northern Oil & Gas, Inc. (NYSEMKT:NOG) might be a better candidate to consider a long position.