Garmin Ltd. (GRMN): Have Hedge Funds Found A Hidden Gem?

As aggregate interest increased, key money managers were leading the bulls’ herd. Arrowstreet Capital established the biggest position in Garmin Ltd. (NASDAQ:GRMN). According to its latest 13F filing, the fund had $21.1 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also made an $8.9 million investment in the stock during the quarter. The other funds with brand new GRMN positions are Christopher Zepf and Brian Thonn’s Kingdom Ridge Capital and John Overdeck and David Siegel’s Two Sigma Advisors.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Garmin Ltd. (NASDAQ:GRMN) but similarly valued. We will take a look at Crescent Point Energy Corp (NYSE:CPG), ANSYS, Inc. (NASDAQ:ANSS), Xylem Inc (NYSE:XYL), and Wyndham Worldwide Corporation (NYSE:WYN). This group of stocks’ market values are similar to GRMN’s market value.

As you can see these stocks had an average of 20 hedge funds with bullish positions and the average amount invested in these stocks was $449 million. That figure was $213 million in GRMN’s case. ANSYS, Inc. (NASDAQ:ANSS) is the most popular stock in this table. On the other hand Crescent Point Energy Corp (NYSE:CPG) is the least popular one with only 16 bullish hedge fund positions. Compared to these stocks Garmin Ltd. (NASDAQ:GRMN) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers and growing more bullish, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None