Hedge Funds Are Betting On Curtiss-Wright Corp. (CW)

Consequently, some big names have been driving this bullishness. Mike Vranos of Ellington assembled the most outsized position in Curtiss-Wright Corp. (NYSE:CW). According to regulatory filings, the fund had $0.8 million invested in the company at the end of the quarter. Brian Taylor’s Pine River Capital Management also made a $0.8 million investment in the stock during the quarter. The other funds with brand new CW positions are Israel Englander’s Millennium Management, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Curtiss-Wright Corp. (NYSE:CW) but similarly valued. We will take a look at Teradata Corporation (NYSE:TDC), First Solar, Inc. (NASDAQ:FSLR), XPO Logistics Inc (NYSE:XPO), and Quanta Services Inc (NYSE:PWR). This group of stocks’ market caps are closest to CW’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
TDC 23 377584 -3
FSLR 23 245591 -7
XPO 25 1091398 9
PWR 22 317676 -8

As you can see these stocks had an average of 23 hedge funds with bullish positions and the average amount invested in these stocks was $508 million. That figure was $217 million in CW’s case. XPO Logistics Inc (NYSE:XPO) is the most popular stock in this table. On the other hand Quanta Services Inc (NYSE:PWR) is the least popular one with only 22 bullish hedge fund positions. Compared to these stocks Curtiss-Wright Corp. (NYSE:CW) is even less popular than PWR. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.

Disclosure: None