Hedge Funds Are Crazy About Navistar International Corp (NAV)

Consequently, key money managers have jumped into Navistar International Corp (NYSE:NAV) headfirst. Lodge Hill Capital, managed by Clint Murray, assembled the biggest call position in Navistar International Corp (NYSE:NAV). The fund had $8.9 million invested in the company at the end of the quarter. Steve Cohen’s Point72 Asset Management also made a $2.6 million investment in the stock during the quarter. The other funds with brand new NAV positions are Philip Rosenstrach’s Pomelo Capital, David Keidan’s Buckingham Capital Management, and Glenn Russell Dubin’s Highbridge Capital Management.

Let’s now review hedge fund activity in other stocks similar to Navistar International Corp (NYSE:NAV). We will take a look at Sonic Automotive Inc (NYSE:SAH), Ruckus Wireless Inc (NYSE:RKUS), Shenandoah Telecommunications Company (NASDAQ:SHEN), and Celldex Therapeutics, Inc. (NASDAQ:CLDX). This group of stocks’ market valuations resemble NAV’s market valuation.

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 $82 million. In NAV’s case that figure is significantly higher than the average: $534 million at the end of the quarter. Sonic Automotive Inc (NYSE:SAH) is the most popular stock in this table. On the other hand Celldex Therapeutics, Inc. (NASDAQ:CLDX) is the least popular one with only 14 bullish hedge fund positions. Compared to these stocks Navistar International Corp (NYSE:NAV) is more popular among hedge funds. It is also important to note that activist investors Carl Icahn and Mark Rachesky are among the largest shareholders of Navistar, which is a positive sign. 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.