Do Hedge Funds Love tronc Inc (TRNC)?

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Consequently, some big names have jumped into tronc Inc (NASDAQ:TRNC) headfirst. Starboard Value LP, led by Jeffrey Smith, assembled the most outsized position in tronc Inc (NASDAQ:TRNC). Starboard Value LP had $16 million invested in the company at the end of the quarter. Pentwater Capital Management also made a $2.9 million investment in the stock during the quarter. The other funds with brand new TRNC positions are Andre F. Perold’s HighVista Strategies, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, and Peter Algert and Kevin Coldiron’s Algert Coldiron Investors.

Let’s also examine hedge fund activity in other stocks similar to tronc Inc (NASDAQ:TRNC). These stocks are Radware Ltd. (NASDAQ:RDWR), Atara Biotherapeutics Inc (NASDAQ:ATRA), Cedar Realty Trust Inc (NYSE:CDR), and Materion Corp (NYSE:MTRN). This group of stocks’ market values are similar to TRNC’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
RDWR 11 167430 2
ATRA 7 210529 0
CDR 5 19220 -1
MTRN 10 39790 -4

As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $109 million. That figure was $175 million in TRNC’s case. Radware Ltd. (NASDAQ:RDWR) is the most popular stock in this table. On the other hand Cedar Realty Trust Inc (NYSE:CDR) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks tronc Inc (NASDAQ:TRNC) 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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Disclosure: None

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