Now, key hedge funds have been driving this bullishness. Balyasny Asset Management assembled the most valuable position in Interface, Inc. (NASDAQ:TILE). Marc Majzner’s Clearline Capital also made a $2.8 million investment in the stock during the quarter. The other funds with new positions in the stock are Joshua Packwood and Schuster Tanger’s Radix Partners, Matthew Tewksbury’s Stevens Capital Management, and Mike Vranos’ Ellington.
Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Interface, Inc. (NASDAQ:TILE) but similarly valued. We will take a look at Select Comfort Corp. (NASDAQ:SCSS), Mercury Systems Inc (NASDAQ:MRCY), Ply Gem Holdings Inc (NYSE:PGEM), and Apollo Group Inc (NASDAQ:APOL). This group of stocks’ market values resemble TILE’s market value.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see these stocks had an average of 14.5 hedge funds with bullish positions and the average amount invested in these stocks was $91 million. That figure was $115 million in TILE’s case. Ply Gem Holdings Inc (NYSE:PGEM) is the most popular stock in this table. On the other hand Select Comfort Corp. (NASDAQ:SCSS) is the least popular one with only 11 bullish hedge fund positions. Compared to these stocks Interface, Inc. (NASDAQ:TILE) is more popular among hedge funds. 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.