Hedge Funds Love Axcelis Technologies Inc (ACLS)

With general bullishness amongst the heavyweights, specific money managers were breaking ground themselves. SG Capital Management initiated the largest position in Axcelis Technologies Inc (NASDAQ:ACLS). SG Capital Management had $6.9 million invested in the company at the end of the quarter. Joel Greenblatt’s Gotham Asset Management also made a $0.1 million investment in the stock during the quarter. The other funds with new positions in the stock are Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, and Ben Levine, Andrew Manuel and Stefan Renold’s LMR Partners.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Axcelis Technologies Inc (NASDAQ:ACLS) but similarly valued. These stocks are Monarch Casino & Resort, Inc. (NASDAQ:MCRI), Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD), Oxford Immunotec Global PLC (NASDAQ:OXFD), and Triumph Bancorp Inc (NASDAQ:TBK). This group of stocks’ market caps match Axcelis Technologies’ market cap.

As you can see these stocks had an average of 8.5 hedge funds with bullish positions and the average amount invested in these stocks was $110 million. That figure was $42 million in Axcelis Technologies’ case. Oxford Immunotec Global PLC (NASDAQ:OXFD) is the most popular stock in this table. On the other hand Monarch Casino & Resort, Inc. (NASDAQ:MCRI) is the least popular one with only 8 bullish hedge fund positions. Compared to these stocks Axcelis Technologies Inc (NASDAQ:ACLS) is quite a bit more popular among hedge funds and has more money invested in it than all but one of the other stocks. 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.