Investors Are Acquiring A Taste For Bob Evans Farms Inc (BOBE)

As industrywide interest jumped, key hedge funds have been driving this bullishness. Sandell Asset Management created the biggest call position in Bob Evans Farms Inc (NASDAQ:BOBE). Sandell Asset Management had $10.8 million invested in the position at the end of the quarter. Israel Englander’s Millennium Management also initiated a $9.9 million position during the quarter. The other funds with new positions in the stock are Chao Ku’s Nine Chapters Capital Management, Neil Chriss’ Hutchin Hill Capital, and Renaissance Technologies.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Bob Evans Farms Inc (NASDAQ:BOBE) but similarly valued. These stocks are Ingles Markets, Incorporated (NASDAQ:IMKTA), Caesars Acquisition Company (NASDAQ:CACQ), Spartan Stores, Inc. (NASDAQ:SPTN), and Crocs, Inc. (NASDAQ:CROX). This group of stocks’ market caps are closest to Bob Evans Farms Inc (NASDAQ:BOBE)’s market cap.

As you can see these stocks had an average of 14.5 hedge funds with bullish positions and the average amount invested in these stocks was $120 million. That figure was $239 million in Bob Evans Farms Inc (NASDAQ:BOBE)’s case. Spartan Stores, Inc. (NASDAQ:SPTN) is the most popular stock in this table. On the other hand Ingles Markets, Incorporated (NASDAQ:IMKTA) is the least popular one with only 11 bullish hedge fund positions. Compared to these stocks Bob Evans Farms Inc (NASDAQ:BOBE) is more popular among hedge funds and has more invested in it than any of the listed stocks. Considering that hedge funds are fond of this stock in relation to its market cap peers and growing fonder, it may be a good idea to analyze it in detail and potentially include it in your portfolio.