As one would reasonably expect, key money managers were leading the bulls’ herd. Gotham Asset Management, managed by Joel Greenblatt, initiated the biggest position in Natural Health Trends Corp. (NASDAQ:NHTC). The fund had $0.8 million invested in the company at the end of the quarter. Peter Algert and Kevin Coldiron’s Algert Coldiron Investors also initiated a $0.7 million position during the quarter. The other funds with new positions in the stock are Glenn Russell Dubin’s Highbridge Capital Management, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.
Let’s go over hedge fund activity in other stocks similar to Natural Health Trends Corp. (NASDAQ:NHTC). These stocks are Calix Inc (NYSE:CALX), Waterstone Financial, Inc. (NASDAQ:WSBF), Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI), and Entercom Communications Corp. (NYSE:ETM). This group of stocks’ market values resemble NHTC’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 hedge funds with bullish positions and the average amount invested in these stocks was $48 million. That figure was $38 million in NHTC’s case. Calix Inc (NYSE:CALX) is the most popular stock in this table. On the other hand Waterstone Financial, Inc. (NASDAQ:WSBF) is the least popular one with only 10 bullish hedge fund positions. Natural Health Trends Corp. (NASDAQ:NHTC) 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 regard CALX might be a better candidate to consider a long position.