Hedge Funds Are Betting On Matthews International Corp (MATW)

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Now, some big names were breaking ground themselves. Gotham Asset Management created the most outsized position in Matthews International Corp (NASDAQ:MATW) which had $1.1 million invested in the company at the end of the quarter. The following funds were also among the new MATW investors: Ken Griffin’s Citadel Investment Group, Glenn Russell Dubin’s Highbridge Capital Management, and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Matthews International Corp (NASDAQ:MATW) but similarly valued. We will take a look at IMAX Corporation (USA) (NYSE:IMAX), Ingevity Corp(NYSE:NGVT), DoubleLine Income Solutions Fund(NYSE:DSL), and Office Depot Inc (NYSE:ODP). All of these stocks’ market caps resemble MATW’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
IMAX 14 105884 1
NGVT 17 219163 -2
DSL 4 20487 -1
ODP 34 284342 -13

As you can see these stocks had an average of 17 hedge funds with bullish positions and the average amount invested in these stocks was $157 million. That figure was $22 million in MATW’s case. Office Depot Inc (NYSE:ODP) is the most popular stock in this table. On the other hand DoubleLine Income Solutions Fund(NYSE:DSL) is the least popular one with only 4 bullish hedge fund positions. Matthews International Corp (NASDAQ:MATW) 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 ODP might be a better candidate to consider taking a long position in.

Disclosure: None


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