Hedge Funds Are Crazy About CIRCOR International, Inc. (CIR)

As aggregate interest increased, specific money managers have jumped into CIRCOR International, Inc. (NYSE:CIR) headfirst. Millennium Management, managed by Israel Englander, initiated the biggest position in CIRCOR International, Inc. (NYSE:CIR). Millennium Management had $1.9 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also initiated a $1.4 million position during the quarter. The other funds with brand new CIRCOR International, Inc. (NYSE:CIR) positions are Chao Ku’s Nine Chapters Capital Management, and Ken Gray and Steve Walsh’s Bryn Mawr Capital.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as CIRCOR International, Inc. (NYSE:CIR) but similarly valued. These stocks are Transocean Partners LLC (NYSE:RIGP), The Pep Boys – Manny, Moe & Jack (NYSE:PBY), Independent Bank Group Inc (NASDAQ:IBTX), and Central Pacific Financial Corp. (NYSE:CPF). This group of stocks’ market values are similar to CIRCOR International, Inc. (NYSE:CIR)’s market value.

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 $77 million. That figure was $155 million in CIRCOR International, Inc. (NYSE:CIR)’s case. The Pep Boys – Manny, Moe & Jack (NYSE:PBY) is the most popular stock in this table. On the other hand, Transocean Partners LLC (NYSE:RIGP) is the least popular one with only 7 bullish hedge fund positions. CIRCOR International, Inc. (NYSE:CIR) 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, Pep Boys – Manny, Moe & Jack (NYSE:PBY) might be a better candidate to consider a long position.