Do Hedge Funds Love Franklin Covey Co. (FC)?

Now, specific money managers were leading the bulls’ herd. Osmium Partners, led by John H Lewis, initiated the largest call position in Franklin Covey Co. (NYSE:FC). Osmium Partners had $8.6 million invested in the company at the end of the quarter. Richard McGuire’s Marcato Capital Management also made a $3.2 million investment in the stock during the quarter. The other funds with new positions in the stock are Matthew Hulsizer’s PEAK6 Capital Management and Matthew Hulsizer’s PEAK6 Capital Management.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Franklin Covey Co. (NYSE:FC) but similarly valued. These stocks are Electrum Special Acquisition Corp (NASDAQ:ELECU), Lantheus Holdings Inc (NASDAQ:LNTH), Celadon Group, Inc. (NYSE:CGI), and Natural Grocers by Vitamin Cottage Inc (NYSE:NGVC). All of these stocks’ market caps match FC’s market cap.

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $37 million. That figure was $33 million in FC’s case. Electrum Special Acquisition Corp (NASDAQ:ELECU) is the most popular stock in this table. On the other hand Natural Grocers by Vitamin Cottage Inc (NYSE:NGVC) is the least popular one with only 6 bullish hedge fund positions. Franklin Covey Co. (NYSE:FC) 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 ELECU might be a better candidate to consider taking a long position in.

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