Do Hedge Funds Love Navistar International Corp (NAV)?

As aggregate interest increased, some big names were leading the bulls’ herd. Balyasny Asset Management, led by Dmitry Balyasny, initiated the biggest position in Navistar International Corp (NYSE:NAV). The fund reportedly had $6.7 million invested in the company at the end of the quarter. Alexander Mitchell’s Scopus Asset Management also initiated a $4.6 million position during the quarter. The other funds with brand new NAV positions are Alexander Mitchell’s Scopus Asset Management, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, and Ken Griffin’s Citadel Investment Group.

Let’s check out hedge fund activity in other stocks similar to Navistar International Corp (NYSE:NAV). We will take a look at Integer Holdings Corporation (NYSE:ITGR), Eros International plc (NYSE:EROS), ScanSource, Inc. (NASDAQ:SCSC), and Tennant Company (NYSE:TNC). This group of stocks’ market valuations match NAV’s market valuation.

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 $75 million. That figure was $977 million in NAV’s case. Integer Holdings Corporation (NYSE:ITGR) is the most popular stock in this table. On the other hand Eros International plc (NYSE:EROS) is the least popular one with only 8 bullish hedge fund positions. Compared to these stocks Navistar International Corp (NYSE:NAV) 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.

Disclosure: none.