Do Hedge Funds Love Luminex Corporation (LMNX)?

Now, key money managers were breaking ground themselves. Gotham Asset Management, managed by Joel Greenblatt, assembled the most valuable position in Luminex Corporation (NASDAQ:LMNX). Gotham Asset Management had $2.9 million invested in the company at the end of the quarter. Neil Chriss’s Hutchin Hill Capital also initiated a $0.9 million position during the quarter. The other funds with new positions in the stock are Matthew Tewksbury’s Stevens Capital Management and Paul Marshall and Ian Wace’s Marshall Wace LLP.

Let’s check out hedge fund activity in other stocks similar to Luminex Corporation (NASDAQ:LMNX). These stocks are Harsco Corporation (NYSE:HSC), Retrophin Inc (NASDAQ:RTRX), Accelerate Diagnostics Inc (NASDAQ:AXDX), and National Bank Holdings Corp (NYSE:NBHC). This group of stocks’ market valuations are similar to LMNX’s market valuation.

As you can see these stocks had an average of 15.5 hedge funds with bullish positions and the average amount invested in these stocks was $138 million. That figure was $104 million in LMNX’s case. Retrophin Inc (NASDAQ:RTRX) is the most popular stock in this table. On the other hand Accelerate Diagnostics Inc (NASDAQ:AXDX) is the least popular one with only 11 bullish hedge fund positions. Compared to these stocks Luminex Corporation (NASDAQ:LMNX) 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.