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Do Hedge Funds Love Tetra Tech, Inc. (TTEK)?

It’s worth mentioning that John A. Levin’s Levin Capital Strategies said goodbye to the biggest stake of the “upper crust” of funds tracked by Insider Monkey, comprising close to $1.4 million in stock, and Boaz Weinstein’s Saba Capital was right behind this move, as the fund cut about $1 million worth. These bearish behaviors are important to note, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Tetra Tech, Inc. (NASDAQ:TTEK) but similarly valued. We will take a look at Hatteras Financial Corp. (NYSE:HTS), WNS (Holdings) Limited (ADR) (NYSE:WNS), Alon USA Partners LP (NYSE:ALDW), and Meritage Homes Corp (NYSE:MTH). This group of stocks’ market valuations resemble TTEK’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
HTS 11 101643 -4
WNS 11 67417 3
ALDW 5 10783 2
MTH 13 198090 -1

As you can see these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $94 million. That figure was $113 million in TTEK’s case. Meritage Homes Corp (NYSE:MTH) is the most popular stock in this table. On the other hand Alon USA Partners LP (NYSE:ALDW) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks Tetra Tech, Inc. (NASDAQ:TTEK) 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.

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