Are Hedge Funds On To Something With Tetra Tech, Inc. (TTEK)?

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Now, specific money managers were breaking ground themselves. Gotham Asset Management initiated the most outsized position in Tetra Tech, Inc. (NASDAQ:TTEK) which had $6.2 million invested in the company at the end of the quarter. Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital also made a $0.7 million investment in the stock during the quarter. The following funds were also among the new TTEK investors: Israel Englander’s Millennium Management and Dmitry Balyasny’s Balyasny Asset Management.

Let’s now take a look at hedge fund activity in other stocks similar to Tetra Tech, Inc. (NASDAQ:TTEK). These stocks are Barnes Group Inc. (NYSE:B), Alexander & Baldwin Inc (NYSE:ALEX), Healthequity Inc (NASDAQ:HQY), and Applied Industrial Technologies (NYSE:AIT). All of these stocks’ market caps resemble TTEK’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
B 17 33534 1
ALEX 9 150408 -2
HQY 12 56301 2
AIT 15 70956 -3

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 $78 million. That figure was $75 million in TTEK’s case. Barnes Group Inc. (NYSE:B) is the most popular stock in this table. On the other hand Alexander & Baldwin Inc (NYSE:ALEX) is the least popular one with only 9 bullish hedge fund positions. Compared to these stocks Tetra Tech, Inc. (NASDAQ:TTEK) 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

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