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.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
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.