Hedge Funds Think The Sky’s The Limit For Horizon Global Corp (HZN)

As aggregate interest increased, specific money managers have been driving this bullishness. Driehaus Capital created the most valuable position in Horizon Global Corp (NYSE:HZN). Driehaus Capital had $5.2 million invested in the company at the end of the quarter. Ira Unschuld’s Brant Point Investment Management also made a $2.8 million investment in the stock during the quarter. The following funds were also among the new HZN investors: Matthew Hulsizer’s PEAK6 Capital Management, Mike Vranos’ Ellington, and Neil Chriss’ Hutchin Hill Capital.

Let’s check out hedge fund activity in other stocks similar to Horizon Global Corp (NYSE:HZN). These stocks are Farmers Capital Bank Corp (NASDAQ:FFKT), MCBC Holdings Inc (NASDAQ:MCFT), Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL), and Zix Corporation (NASDAQ:ZIXI). This group of stocks’ market valuations are closest to HZN’s market valuation.

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 $59 million. That figure was $73 million in HZN’s case. Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) is the most popular stock in this table. On the other hand Farmers Capital Bank Corp (NASDAQ:FFKT) is the least popular one with only 3 bullish hedge fund positions. Horizon Global Corp (NYSE:HZN) is not the most popular stock in this group but hedge fund interest is still above average. This is a positive signal, as we’d rather spend our time researching stocks that hedge funds are piling on lately. In this regard HZN might be a better candidate than the other stocks to consider taking up a long position in.

Disclosure: None