Hedge Funds Are Betting On Casella Waste Systems Inc. (CWST)

As one would reasonably expect, key money managers have jumped into Casella Waste Systems Inc. (NASDAQ:CWST) headfirst. Highbridge Capital Management, managed by Glenn Russell Dubin, initiated the largest position in Casella Waste Systems Inc. (NASDAQ:CWST). Highbridge Capital Management had $0.2 million invested in the company at the end of the quarter.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Casella Waste Systems Inc. (NASDAQ:CWST) but similarly valued. We will take a look at KEYW Holding Corp. (NASDAQ:KEYW), Limoneira Company (NASDAQ:LMNR), NVE Corporation (NASDAQ:NVEC), and P.A.M. Transportation Services, Inc. (NASDAQ:PTSI). All of these stocks’ market caps resemble CWST’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
KEYW 8 5412 1
LMNR 7 9391 -3
NVEC 7 32719 2
PTSI 4 13916 -3

As you can see these stocks had an average of 7 hedge funds with bullish positions and the average amount invested in these stocks was $15 million. That figure was $56 million in CWST’s case. KEYW Holding Corp. (NASDAQ:KEYW) is the most popular stock in this table. On the other hand P.A.M. Transportation Services, Inc. (NASDAQ:PTSI) is the least popular one with only 4 bullish hedge fund positions. In comparison, Casella Waste Systems Inc. (NASDAQ:CWST) with 14 bullish hedge fund positions is the most popular stock in this group. Since the smart money is behind this stock, it might represent a good buying opportunity at the moment. Hence, it may be a good idea to analyze it in detail and potentially include it in your portfolio.