Boston Beer Company Inc (SAM): Hedge Funds Finally See Something to Like Again

Consequently, some big names were breaking ground themselves. Millennium Management established the largest position in Boston Beer Company Inc (NYSE:SAM). Millennium Management had $6.8 million invested in the company at the end of the quarter. Matthew Hulsizer’s PEAK6 Capital Management also initiated a $4.8 million position during the quarter. The following funds were also among the new SAM investors: Neil Chriss’ Hutchin Hill Capital, Ken Griffin’s Citadel Investment Group, and Paul Marshall and Ian Wace’s Marshall Wace LLP.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Boston Beer Company Inc (NYSE:SAM) but similarly valued. We will take a look at WESCO International, Inc. (NYSE:WCC), Armstrong World Industries, Inc. (NYSE:AWI), Zynga Inc (NASDAQ:ZNGA), and Retail Opportunity Investments Corp (NASDAQ:ROIC). This group of stocks’ market valuations resemble SAM’s market valuation.

As you can see these stocks had an average of 21 hedge funds with bullish positions and the average amount invested in these stocks was $472 million. That figure was $278 million in SAM’s case. Zynga Inc (NASDAQ:ZNGA) is the most popular stock in this table. On the other hand Retail Opportunity Investments Corp (NASDAQ:ROIC) is the least popular one with only 8 bullish hedge fund positions. Boston Beer Company Inc (NYSE:SAM) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard ZNGA might be a better candidate to consider taking a long position in.

Disclosure: None