Hedge Funds Are Betting On Ring Energy Inc (REI)

Consequently, key money managers were breaking ground themselves. Jeffrey Tannenbaum’s Fir Tree initiated the most outsized position in Ring Energy Inc (NYSEMKT:REI). According to its latest 13F filing, the fund had $1.3 million invested in the company at the end of the quarter. Robert B. Gillam’s McKinley Capital Management also made a $0.3 million investment in the stock during the quarter. The only other fund with a new position in the stock is Ken Griffin’s Citadel Investment Group.

Let’s go over hedge fund activity in other stocks similar to Ring Energy Inc (NYSEMKT:REI). We will take a look at Hawkins, Inc. (NASDAQ:HWKN), MFS Multimarket Income Trust (NYSE:MMT), Vocera Communications Inc (NYSE:VCRA), and Park-Ohio Holdings Corp. (NASDAQ:PKOH). All of these stocks’ market caps are similar to REI’s market cap.

As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $43 million. That figure was $63 million in REI’s case. Vocera Communications Inc (NYSE:VCRA) is the most popular stock in this table. On the other hand Hawkins, Inc. (NASDAQ:HWKN) is the least popular one with only 4 bullish hedge fund positions. Ring Energy Inc (NYSEMKT:REI) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard VCRA might be a better candidate to consider taking a long position in.

Disclosure: None