Here is What Hedge Funds Think About Drew Industries, Inc. (DW)

Consequently, some big names have jumped into Drew Industries, Inc. (NYSE:DW) headfirst. SG Capital Management, managed by Ken Grossman and Glen Schneider, initiated the biggest position in Drew Industries, Inc. (NYSE:DW). The fund reportedly had $10.1 million invested in the company at the end of the quarter. Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital also initiated a $2 million investment during the quarter. The other funds with brand new DW positions are Matthew Tewksbury’s Stevens Capital Management, David Costen Haley’s HBK Investments, and Neil Chriss’s Hutchin Hill Capital.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Drew Industries, Inc. (NYSE:DW) but similarly valued. We will take a look at Joy Global Inc. (NYSE:JOY), WP Glimcher Inc (NYSE:WPG), Interval Leisure Group, Inc. (NASDAQ:IILG), and Shopify Inc (NYSE:SHOP). This group of stocks’ market values are similar to DW’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
JOY 21 337414 -1
WPG 13 82733 -4
IILG 20 284871 -8
SHOP 31 450154 7

As you can see these stocks had an average of 21 hedge funds with bullish positions and the average amount invested in these stocks was $289 million. That figure was $171 million in DW’s case. Shopify Inc (NYSE:SHOP) is the most popular stock in this table. On the other hand WP Glimcher Inc (NYSE:WPG) is the least popular one with only 13 bullish hedge fund positions. Drew Industries, Inc. (NYSE:DW) 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 SHOP might be a better candidate to consider a long position.

Disclosure: none.