Hedge Funds Detecting A Sweeter Scent From 1-800-FLOWERS.COM Inc (FLWS)

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As one would reasonably expect, key hedge funds have jumped into 1-800-FLOWERS.COM Inc (NASDAQ:FLWS) headfirst. Beddow Capital Management assembled the most outsized position in 1-800-FLOWERS.COM Inc (NASDAQ:FLWS). Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital also made a $0.9 million investment in the stock during the quarter. The following funds were also among the new FLWS investors: Dmitry Balyasny’s Balyasny Asset Management and Chao Ku’s Nine Chapters Capital Management.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as 1-800-FLOWERS.COM Inc (NASDAQ:FLWS) but similarly valued. These stocks are Qiwi PLC (NASDAQ:QIWI), Rayonier Advanced Materials Inc (NYSE:RYAM), Virtus Investment Partners Inc (NASDAQ:VRTS), and CTS Corporation (NYSE:CTS). All of these stocks’ market caps are similar to FLWS’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
QIWI 9 74776 1
RYAM 24 106589 4
VRTS 12 101602 7
CTS 4 76463 -2

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $90 million. That figure was $34 million in FLWS’s case. Rayonier Advanced Materials Inc (NYSE:RYAM) is the most popular stock in this table. On the other hand CTS Corporation (NYSE:CTS) is the least popular one with only 4 bullish hedge fund positions. 1-800-FLOWERS.COM Inc (NASDAQ:FLWS) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard RYAM might be a better candidate to consider taking a long position in.

Disclosure: None

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