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Hedge Funds Are Betting On Ingram Micro Inc. (IM)

As aggregate interest increased, key money managers have been driving this bullishness. Angelo Gordon & Co, managed by John M. Angelo and Michael L. Gordon, established the largest position in Ingram Micro Inc. (NYSE:IM). Angelo Gordon & Co had $19.6 million invested in the company at the end of the quarter. Andre F. Perold’s HighVista Strategies also made a $15.5 million investment in the stock during the quarter. The other funds with new positions in the stock are John Bader’s Halcyon Asset Management, Thomas Steyer’s Farallon Capital, and Israel Englander’s Millennium Management.

Let’s now take a look at hedge fund activity in other stocks similar to Ingram Micro Inc. (NYSE:IM). These stocks are W.R. Grace & Co. (NYSE:GRA), WABCO Holdings Inc. (NYSE:WBC), Casey’s General Stores, Inc. (NASDAQ:CASY), and The Hain Celestial Group, Inc. (NASDAQ:HAIN). This group of stocks’ market caps are closest to IM’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
GRA 39 1326561 -8
WBC 33 1444395 -2
CASY 22 448259 -6
HAIN 32 388383 9

As you can see these stocks had an average of 31.5 hedge funds with bullish positions and the average amount invested in these stocks was $902 million. That figure was $964 million in IM’s case. W.R. Grace & Co. (NYSE:GRA) is the most popular stock in this table. On the other hand Casey’s General Stores, Inc. (NASDAQ:CASY) is the least popular one with only 22 bullish hedge fund positions. Compared to these stocks Ingram Micro Inc. (NYSE:IM) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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