Big 5 Sporting Goods Corporation (BGFV): Hedge Fund Ownership Jumps by 50%

As aggregate interest increased, key hedge funds have been driving this bullishness. Atika Capital, led by Brad Farber, assembled the most outsized position in Big 5 Sporting Goods Corporation (NASDAQ:BGFV). Atika Capital had $2.9 million invested in the company at the end of the quarter. Steven Boyd’s Armistice Capital also made a $2.4 million investment in the stock during the quarter. The other funds with brand new BGFV positions are Steve Cohen’s Point72 Asset Management, David Harding’s Winton Capital Management, and Israel Englander’s Millennium Management.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Big 5 Sporting Goods Corporation (NASDAQ:BGFV) but similarly valued. These stocks are First Business Financial Services Inc (NASDAQ:FBIZ), Independence Contract Drilling Inc (NYSE:ICD), Marlin Business Services Corp. (NASDAQ:MRLN), and Rightside Group Ltd (NASDAQ:NAME). This group of stocks’ market values are closest to BGFV’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
FBIZ 3 9654 -2
ICD 11 15965 -3
MRLN 7 63623 1
NAME 10 23261 4

As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $28 million. That figure was $67 million in BGFV’s case. Independence Contract Drilling Inc (NYSE:ICD) is the most popular stock in this table. On the other hand First Business Financial Services Inc (NASDAQ:FBIZ) is the least popular one with only 3 bullish hedge fund positions. Compared to these stocks Big 5 Sporting Goods Corporation (NASDAQ:BGFV) 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