Hedge Funds Are Betting On Tsakos Energy Navigation Ltd. (TNP)

As industrywide interest jumped, key money managers have jumped into Tsakos Energy Navigation Ltd. (NYSE:TNP) headfirst. York Capital Management, managed by James Dinan, created the most valuable position in Tsakos Energy Navigation Ltd. (NYSE:TNP). York Capital Management had $21.4 million invested in the company at the end of the quarter. Louis Bacon’s Moore Global Investments also made a $1.7 million investment in the stock during the quarter. The following funds were also among the new TNP investors: Paul Marshall and Ian Wace’s Marshall Wace LLP, Andy Redleaf’s Whitebox Advisors, and Thomas Bailard’s Bailard Inc.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Tsakos Energy Navigation Ltd. (NYSE:TNP) but similarly valued. We will take a look at Genomic Health, Inc. (NASDAQ:GHDX), Oritani Financial Corp. (NASDAQ:ORIT), Wingstop Inc (NASDAQ:WING), and Manchester United PLC (NYSE:MANU). This group of stocks’ market valuations match TNP’s market valuation.

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $140 million. That figure was $113 million in TNP’s case. Genomic Health, Inc. (NASDAQ:GHDX) is the most popular stock in this table. On the other hand Manchester United PLC (NYSE:MANU) is the least popular one with only 9 bullish hedge fund positions. Compared to these stocks Tsakos Energy Navigation Ltd. (NYSE:TNP) 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.