How Argan, Inc. (AGX) Stacks Up Against Its Peers

Consequently, some big names were breaking ground themselves. Welch Capital Partners, led by Leighton Welch, established the most valuable position in Argan, Inc. (NYSE:AGX). Welch Capital Partners had $6.8 million invested in the company at the end of the quarter. Richard Driehaus’ Driehaus Capital also initiated a $5.6 million position during the quarter. The other funds with brand new AGX positions are Chuck Royce’s Royce & Associates, George Hall’s Clinton Group, and Paul Marshall and Ian Wace’s Marshall Wace LLP.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Argan, Inc. (NYSE:AGX) but similarly valued. We will take a look at FelCor Lodging Trust Incorporated (NYSE:FCH), Cavco Industries, Inc. (NASDAQ:CVCO), Eros International plc (NYSE:EROS), and Noble Midstream Partners LP (NYSE:NBLX). This group of stocks’ market values resemble AGX’s market value.

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 $89 million. That figure was $108 million in AGX’s case. FelCor Lodging Trust Incorporated (NYSE:FCH) is the most popular stock in this table. On the other hand Noble Midstream Partners LP (NYSE:NBLX) is the least popular one with only 4 bullish hedge fund positions. Argan, Inc. (NYSE:AGX) 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 FCH might be a better candidate to consider taking a long position in.

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Disclosure: None