Here is What Hedge Funds Think About Kimball Electronics Inc (KE)

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As industrywide interest jumped, specific money managers have jumped into Kimball Electronics Inc (NASDAQ:KE) headfirst. Hawk Ridge Management, managed by David Brown, established a position in Kimball Electronics Inc (NASDAQ:KE). Hawk Ridge Management had $3.1 million invested in the company at the end of the quarter. Israel Englander’s Millennium Management also made an $0.2 million investment in the stock during the quarter. The only other fund with a brand new KE position is D. E. Shaw’s D E Shaw.

Let’s now take a look at hedge fund activity in other stocks similar to Kimball Electronics Inc (NASDAQ:KE). We will take a look at Ocular Therapeutix Inc (NASDAQ:OCUL), NeoGenomics, Inc. (NASDAQ:NEO), Perry Ellis International, Inc. (NASDAQ:PERY), and Addus Homecare Corporation (NASDAQ:ADUS). All of these stocks’ market caps resemble KE’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
OCUL 12 39161 -2
NEO 9 15028 0
PERY 17 31983 1
ADUS 10 18636 3

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $26 million. That figure was $24 million in KE’s case. Perry Ellis International, Inc. (NASDAQ:PERY) is the most popular stock in this table. On the other hand NeoGenomics, Inc. (NASDAQ:NEO) is the least popular one with only 9 bullish hedge fund positions. Kimball Electronics Inc (NASDAQ:KE) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal, and we’d rather spend our time researching stocks that hedge funds are piling on. In this case, PERY might be a better alternative.

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