Do Hedge Funds Love Monro Muffler Brake Inc (MNRO)?

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As one would reasonably expect, key hedge funds were leading the bulls’ herd. Buckingham Capital Management, managed by David Keidan, assembled the most outsized position in Monro Muffler Brake Inc (NASDAQ:MNRO). Buckingham Capital Management had $7.8 million invested in the company at the end of the quarter. Robert Bishop’s Impala Asset Management also made a $4.1 million investment in the stock during the quarter. The following funds were also among the new MNRO investors: Mark Coe’s Coe Capital Management, Ken Griffin’s Citadel Investment Group, and Peter Muller’s PDT Partners.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Monro Muffler Brake Inc (NASDAQ:MNRO) but similarly valued. We will take a look at WP Glimcher Inc (NYSE:WPG), National Health Investors Inc (NYSE:NHI), and Kosmos Energy Ltd (NYSE:KOS). This group of stocks’ market caps is closer to Monro Muffler Brake Inc (NASDAQ:MNRO)’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
WPG 16 99115 -3
NHI 12 71580 4
KOS 9 98311 -8

As you can see, these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $90 million. That figure was $266 million in Monro Muffler Brake Inc (NASDAQ:MNRO)’s case. WP Glimcher Inc (NYSE:WPG) is the most popular stock in this table. On the other hand, Kosmos Energy Ltd (NYSE:KOS) is the least popular one with only 9 bullish hedge fund positions. Monro Muffler Brake Inc (NASDAQ:MNRO) is not the most popular stock in this group, but hedge fund interest is still above average. This is a slightly positive signal, but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard, WP Glimcher Inc (NYSE:WPG) might be a better candidate to consider a long position.

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