Consequently, some big names have been driving this bullishness. Charles Davidson’s Wexford Capital established the biggest position in Tuniu Corp (NASDAQ:TOUR). Matthew Hulsizer’s PEAK6 Capital Management also made a $0.2 million investment in the stock during the quarter. The other funds with new positions in the stock are D. E. Shaw’s D E Shaw and Larry Chen and Terry Zhang’s Tairen Capital.
Let’s also examine hedge fund activity in other stocks similar to Tuniu Corp (NASDAQ:TOUR). We will take a look at Siliconware Precision Industries (ADR) (NASDAQ:SPIL), Avid Technology, Inc. (NASDAQ:AVID), Primo Water Corporation (NASDAQ:PRMW), and Natural Gas Services Group, Inc. (NYSE:NGS). This group of stocks’ market caps are similar to TOUR’s market cap.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| SPIL | 6 | 16403 | 1 |
| AVID | 17 | 93598 | 7 |
| PRMW | 17 | 73107 | 0 |
| NGS | 9 | 25344 | -1 |
As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $52 million. That figure was $13 million in TOUR’s case. Avid Technology, Inc. (NASDAQ:AVID) is the most popular stock in this table. On the other hand Siliconware Precision Industries (ADR) (NASDAQ:SPIL) is the least popular one with only 6 bullish hedge fund positions. Tuniu Corp (NASDAQ:TOUR) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard AVID might be a better candidate to consider taking a long position in.
Disclosure: none.
