Hedge Funds Are Betting On Insight Enterprises, Inc. (NSIT)

As aggregate interest increased, key hedge funds have been driving this bullishness. Citadel Investment Group, led by Ken Griffin, created the largest position in Insight Enterprises, Inc. (NASDAQ:NSIT). Citadel Investment Group had $1.2 million invested in the company at the end of the quarter. Mike Vranos’ Ellington also initiated a $0.4 million position during the quarter. The other funds with brand new NSIT positions are Matthew Tewksbury’s Stevens Capital Management, Neil Chriss’ Hutchin Hill Capital, and Peter Algert and Kevin Coldiron’s Algert Coldiron Investors.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Insight Enterprises, Inc. (NASDAQ:NSIT) but similarly valued. We will take a look at Navistar International Corp (NYSE:NAV), Integer Holdings Corporation (NYSE:ITGR), Eros International plc (NYSE:EROS), and ScanSource, Inc. (NASDAQ:SCSC). This group of stocks’ market caps resemble NSIT’s market cap.

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $290 million. That figure was $84 million in NSIT’s case. Navistar International Corp (NYSE:NAV) is the most popular stock in this table. On the other hand Eros International plc (NYSE:EROS) is the least popular one with only 8 bullish hedge fund positions. Compared to these stocks Insight Enterprises, Inc. (NASDAQ:NSIT) 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.

Disclosure: None