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Do Hedge Funds Love Container Store Group Inc (TCS)?

We already know that not all hedge funds are bullish on Container Store Group Inc (NYSE:TCS) and some hedge funds actually said goodbye to their positions entirely. It’s worth mentioning that Israel Englander’s Millennium Management said goodbye to the largest investment of all the investors monitored by Insider Monkey, worth close to $1 million in stock, and Glenn Russell Dubin’s Highbridge Capital Management was right behind this move, as the fund dropped about $0.4 million worth of shares.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Container Store Group Inc (NYSE:TCS) but similarly valued. These stocks are Olympic Steel, Inc. (NASDAQ:ZEUS), Patriot National Inc (NYSE:PN), JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO), and LSB Industries, Inc. (NYSE:LXU). This group of stocks’ market values match TCS’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
ZEUS 9 15182 -1
PN 8 16926 3
JASO 6 4830 -2
LXU 8 31284 -1

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 $17 million. That figure was $14 million in TCS’s case. Olympic Steel, Inc. (NASDAQ:ZEUS) is the most popular stock in this table. On the other hand JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO) is the least popular one with only 6 bullish hedge fund positions. Container Store Group Inc (NYSE:TCS) 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 ZEUS might be a better candidate to consider taking a long position in.

Disclosure: none.

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