Here is What Hedge Funds Think About Bed Bath & Beyond Inc. (BBBY)

Consequently, specific money managers were breaking ground themselves. Two Sigma Advisors, managed by John Overdeck and David Siegel, initiated the most valuable position in Bed Bath & Beyond Inc. (NASDAQ:BBBY). Two Sigma Advisors had $31.2 million invested in the company at the end of the quarter. George Hall’s Clinton Group also made a $6.5 million investment in the stock during the quarter. The following funds were also among the new BBBY investors: Gilchrist Berg’s Water Street Capital, Neil Chriss’ Hutchin Hill Capital, and Chao Ku’s Nine Chapters Capital Management.

Let’s also examine hedge fund activity in other stocks similar to Bed Bath & Beyond Inc. (NASDAQ:BBBY). These stocks are Linear Technology Corporation (NASDAQ:LLTC), Sealed Air Corp (NYSE:SEE), Eastman Chemical Company (NYSE:EMN), and C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW). All of these stocks’ market caps are similar to BBBY’s market cap.

As you can see these stocks had an average of 32.5 hedge funds with bullish positions and the average amount invested in these stocks was $1424 million. That figure was $743 million in BBBY’s case. Sealed Air Corp (NYSE:SEE) is the most popular stock in this table. On the other hand Linear Technology Corporation (NASDAQ:LLTC) is the least popular one with only 20 bullish hedge fund positions. Bed Bath & Beyond Inc. (NASDAQ:BBBY) 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 SEE might be a better candidate to consider a long position.