Here is What Hedge Funds Think About Titan International Inc (TWI)

As one would reasonably expect, specific money managers were leading the bulls’ herd. Driehaus Capital assembled the most valuable position in Titan International Inc (NYSE:TWI) which had $2.8 million invested in the company at the end of the quarter. Millennium Management also initiated a $2.1 million position during the quarter. The other funds with brand new TWI positions are Chuck Royce’s Royce & Associates, and Ken Griffin’s Citadel Investment Group.

Let’s now review hedge fund activity in other stocks similar to Titan International Inc (NYSE:TWI). These stocks are ConnectOne Bancorp Inc (NASDAQ:CNOB), Ellington Financial LLC (NYSE:EFC), Par Pacific Holdings, Inc. (NYSEMKT:PARR), and MarineMax, Inc. (NYSE:HZO). This group of stocks’ market valuations are similar to TWI’s market valuation.

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $70 million. That figure was $123 million in TWI’s case. MarineMax, Inc. (NYSE:HZO) is the most popular stock in this table. On the other hand Ellington Financial LLC (NYSE:EFC) is the least popular one with only 3 bullish hedge fund positions. Titan International Inc (NYSE:TWI) 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 HZO might be a better candidate to consider taking a long position in.

Disclosure: None