Are Hedge Funds On To Something With Fabrinet (FN)?

Consequently, key hedge funds were leading the bulls’ herd. Garelick Capital Partners established the most outsized position in Fabrinet (NYSE:FN). Garelick Capital Partners had $12 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also made a $2.2 million investment in the stock during the quarter. The other funds with new positions in the stock are Israel Englander’s Millennium Management, Josh Goldberg’s G2 Investment Partners Management, and Charles Davidson’s Wexford Capital.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Fabrinet (NYSE:FN) but similarly valued. We will take a look at Hub Group Inc (NASDAQ:HUBG), Ladder Capital Corp (NYSE:LADR), The Navigators Group, Inc (NASDAQ:NAVG), and WisdomTree Investments, Inc. (NASDAQ:WETF). All of these stocks’ market caps are closest to FN’s market cap.

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $124 million. That figure was $206 million in FN’s case. Hub Group Inc (NASDAQ:HUBG) is the most popular stock in this table. On the other hand Ladder Capital Corp (NYSE:LADR) is the least popular one with only 8 bullish hedge fund positions. Compared to these stocks Fabrinet (NYSE:FN) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers and growing fonder still, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None