Do Hedge Funds Love Winnebago Industries, Inc. (WGO)?

Since Winnebago Industries, Inc. (NYSE:WGO) has faced bearish sentiment from the entirety of the hedge funds we track, it’s easy to see that there was a specific group of fund managers that decided to sell off their entire stakes by the end of the third quarter. It’s worth mentioning that Peter Muller’s PDT Partners said goodbye to the largest investment of the “upper crust” of funds watched by Insider Monkey, comprising an estimated $5.1 million in stock, and Steve Pei’s Gratia Capital was right behind this move, as the fund dropped about $2.6 million worth of shares. These transactions are intriguing to say the least, as total hedge fund interest fell by 4 funds by the end of the third quarter.

Let’s go over hedge fund activity in other stocks similar to Winnebago Industries, Inc. (NYSE:WGO). These stocks are Unitil Corporation (NYSE:UTL), Cardiovascular Systems Inc (NASDAQ:CSII), SP Plus Corp (NASDAQ:SP), and Republic Bancorp, Inc. KY (NASDAQ:RBCAA). This group of stocks’ market values are similar to WGO’s market value.

As you can see these stocks had an average of 9 hedge funds with bullish positions and the average amount invested in these stocks was $33 million. That figure was a whooping $78 million in WGO’s case. Cardiovascular Systems Inc (NASDAQ:CSII) is the most popular stock in this table. On the other hand Republic Bancorp, Inc. KY (NASDAQ:RBCAA) is the least popular one with only 4 bullish hedge fund positions. Winnebago Industries, Inc. (NYSE:WGO) is not the most popular stock in this group, but hedge fund interest is still above average. While this is a slightly positive signal, we’d rather spend our time researching stocks that hedge funds are piling on. In this regard CSII might be a better candidate to consider a long position.