Hedge Funds Are Crazy About Trimble Inc (TRMB)

Now, specific money managers have jumped into Trimble Inc (NASDAQ:TRMB) headfirst. Arrowstreet Capital, led by Peter Rathjens, Bruce Clarke and John Campbell, created the most outsized position in Trimble Inc (NASDAQ:TRMB). Arrowstreet Capital had $15.3 million invested in the company at the end of the quarter. Mike Vranos’ Ellington also made a $1 million investment in the stock during the quarter. The other funds with brand new TRMB positions are Matthew Hulsizer’s PEAK6 Capital Management and Michael Platt and William Reeves’ BlueCrest Capital Mgmt.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Trimble Inc (NASDAQ:TRMB) but similarly valued. These stocks are Kilroy Realty Corp (NYSE:KRC), iShares MSCI ACWI Index Fund (NASDAQ:ACWI), TransUnion (NYSE:TRU), and Kinross Gold Corporation (USA) (NYSE:KGC). This group of stocks’ market caps match TRMB’s market cap.

As you can see these stocks had an average of 19 hedge funds with bullish positions and the average amount invested in these stocks was $387 million. That figure was $531 million in TRMB’s case. TransUnion (NYSE:TRU) is the most popular stock in this table. On the other hand iShares MSCI ACWI Index Fund (NASDAQ:ACWI) is the least popular one with only 9 bullish hedge fund positions. Trimble Inc (NASDAQ:TRMB) 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 TRU might be a better candidate to consider taking a long position in.

Disclosure: None