Here Is What Hedge Funds Think About J&J Snack Foods Corp. (JJSF)

As aggregate interest increased, key hedge funds were leading the bulls’ herd. Magnetar Capital, led by Alec Litowitz and Ross Laser, created the most outsized position in J&J Snack Foods Corp. (NASDAQ:JJSF). Magnetar Capital had $0.4 million invested in the company at the end of the quarter. Dmitry Balyasny’s Balyasny Asset Management also made a $0.3 million investment in the stock during the quarter. The only other fund with a new position in the stock is Matthew Hulsizer’s PEAK6 Capital Management.

Let’s go over hedge fund activity in other stocks similar to J&J Snack Foods Corp. (NASDAQ:JJSF). These stocks are Boyd Gaming Corporation (NYSE:BYD), Healthequity Inc (NASDAQ:HQY), Watts Water Technologies Inc (NYSE:WTS), and PBF Energy Inc (NYSE:PBF). This group of stocks’ market valuations resemble JJSF’s market valuation.

As you can see these stocks had an average of 17 hedge funds with bullish positions and the average amount invested in these stocks was $414 million. That figure was $55 million in JJSF’s case. Boyd Gaming Corporation (NYSE:BYD) is the most popular stock in this table. On the other hand Watts Water Technologies Inc (NYSE:WTS) is the least popular one with only 11 bullish hedge fund positions. Compared to these stocks J&J Snack Foods Corp. (NASDAQ:JJSF) is even less popular than WTS. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.

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