Do Hedge Funds Love Sparton Corporation (SPA)?

With a general bullishness amongst the heavyweights, specific money managers were leading the bulls’ herd. Beddow Capital Management initiated the most valuable position in Sparton Corporation (NYSE:SPA). Cliff Asness’ AQR Capital Management also made a $0.5 million investment in the stock during the quarter. The other funds with new positions in the stock are Matthew Hulsizer’s PEAK6 Capital Management, John Overdeck and David Siegel’s Two Sigma Advisors, and Mike Vranos’ Ellington.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Sparton Corporation (NYSE:SPA) but similarly valued. We will take a look at Exa Corp (NASDAQ:EXA), Monster Worldwide, Inc. (NYSE:MWW), Build-A-Bear Workshop, Inc (NYSE:BBW), and Immersion Corporation (NASDAQ:IMMR). This group of stocks’ market values resemble SPA’s market value.

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $54 million. That figure was $49 million in SPA’s case. Monster Worldwide, Inc. (NYSE:MWW) is the most popular stock in this table. On the other hand Exa Corp (NASDAQ:EXA) is the least popular one with only 6 bullish hedge fund positions. Sparton Corporation (NYSE:SPA) 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 MWW might be a better candidate to consider taking a long position in.

Disclosure: None