AtriCure Inc. (ATRC) Hedge Funds Are Snapping Up

With a general bullishness amongst the heavyweights, some big names have jumped into AtriCure Inc. (NASDAQ:ATRC) headfirst. George McCabe’s Portolan Capital Management established the biggest position in AtriCure Inc. (NASDAQ:ATRC). According to regulatory filings, the fund had $3.9 million invested in the company at the end of the quarter. Consonance Capital Management also made a $3.7 million fresh investment in the stock during the quarter. The other funds with new positions in the stock are Thomas E. Claugus’ GMT Capital, Ken Griffin’s Citadel Investment Group, and Joseph Edelman’s Perceptive Advisors.

Let’s go over hedge fund activity in other stocks similar to AtriCure Inc. (NASDAQ:ATRC). These stocks are Armstrong Flooring Inc (NYSE:AFI), World Point Terminals LP (NYSE:WPT), PGT, Inc. (NASDAQ:PGTI), and Omega Protein Corporation (NYSE:OME). This group of stocks’ market values match ATRC’s market value.

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $92 million. That figure was $44 million in ATRC’s case. Omega Protein Corporation (NYSE:OME) is the most popular stock in this table. On the other hand World Point Terminals LP (NYSE:WPT) is the least popular one with only 3 bullish hedge fund positions. AtriCure Inc. (NASDAQ:ATRC) 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 OME might be a better candidate to consider taking a long position in.

Disclosure: None