Here is What Hedge Funds Think About Western Refining Logistics LP (WNRL)

As industrywide interest jumped, key hedge funds were leading the bulls’ herd. Pyrrho Capital Management, led by Vishal Bhutani and Joshua Bederman, initiated the most outsized position in Western Refining Logistics LP (NYSE:WNRL). According to its latest 13F filing, the fund had $1.8 million invested in the company at the end of the quarter. Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital also initiated a $0.3 million position during the quarter. The only other fund with a new position in the stock is Ken Griffin’s Citadel Investment Group.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Western Refining Logistics LP (NYSE:WNRL) but similarly valued. These stocks are iRobot Corporation (NASDAQ:IRBT), COMSCORE, Inc. (NASDAQ:SCOR), ESCO Technologies Inc. (NYSE:ESE), and Kaman Corporation (NYSE:KAMN). This group of stocks’ market values match WNRL’s market value.

As you can see these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $130 million. That figure was $90 million in WNRL’s case. COMSCORE, Inc. (NASDAQ:SCOR) is the most popular stock in this table. On the other hand ESCO Technologies Inc. (NYSE:ESE) is the least popular one with only 5 bullish hedge fund positions. Western Refining Logistics LP (NYSE:WNRL) 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 SCOR might be a better candidate to consider taking a long position in.

Disclosure: none.