Do Hedge Funds Love Tile Shop Hldgs, Inc. (TTS)?

Seeing as Tile Shop Hldgs, Inc. (NASDAQ:TTS) has sustained falling interest from the aggregate hedge fund industry, we can see that there was a specific group of fund managers who sold off their entire stakes in the third quarter. Interestingly, Principal Global Investors’ Columbus Circle Investors sold off the largest position of the “upper crust” of funds followed by Insider Monkey, worth about $9.8 million in stock, and Richard Driehaus’ Driehaus Capital was right behind this move, as the fund dumped about $8.5 million worth of shares.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Tile Shop Hldgs, Inc. (NASDAQ:TTS) but similarly valued. We will take a look at Endologix, Inc. (NASDAQ:ELGX), Cabot Microelectronics Corporation (NASDAQ:CCMP), First Merchants Corporation (NASDAQ:FRME), and Chesapeake Utilities Corporation (NYSE:CPK). All of these stocks’ market caps match TTS’s market cap.

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 $111 million. That figure was $91 million in TTS’s case. Endologix, Inc. (NASDAQ:ELGX) is the most popular stock in this table. On the other hand Chesapeake Utilities Corporation (NYSE:CPK) is the least popular one with only 10 bullish hedge fund positions. Tile Shop Hldgs, Inc. (NASDAQ:TTS) 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 ELGX might be a better candidate to consider taking a long position in.

Disclosure: None