Generac Holdings Inc. (GNRC)Hedge Funds Are Snapping Up

Consequently, key hedge funds have been driving this bullishness. Point72 Asset Management, led by Steve Cohen, assembled the largest position in Generac Holdings Inc. (NYSE:GNRC). Point72 Asset Management had $6.7 million invested in the company at the end of the quarter. Robert Polak’s Anchor Bolt Capital also made a $4.2 million investment in the stock during the quarter. The other funds with brand new GNRC positions are Neil Chriss’ Hutchin Hill Capital, Michael Platt and William Reeves’ BlueCrest Capital Mgmt., and Ken Griffin’s Citadel Investment Group.

Let’s go over hedge fund activity in other stocks similar to Generac Holdings Inc. (NYSE:GNRC). These stocks are PBF Energy Inc (NYSE:PBF), Select Income REIT (NYSE:SIR), Yelp Inc (NYSE:YELP), and Valley National Bancorp (NYSE:VLY). This group of stocks’ market caps are similar to GNRC’s market cap.

As you can see these stocks had an average of 22 hedge funds with bullish positions and the average amount invested in these stocks was $435 million. That figure was $159 million in GNRC’s case. Yelp Inc (NYSE:YELP) is the most popular stock in this table. On the other hand Select Income REIT (NYSE:SIR) is the least popular one with only 12 bullish hedge fund positions. Generac Holdings Inc. (NYSE:GNRC) 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 YELP might be a better candidate to consider taking a long position in.

Disclosure: None