As aggregate interest increased, key hedge funds were breaking ground themselves. McKinley Capital Management, managed by Robert B. Gillam, established the most valuable position in Armada Hoffler Properties Inc (NYSE:AHH). McKinley Capital Management had $1.2 million invested in the company at the end of the quarter. Matthew Hulsizer’s PEAK6 Capital Management also initiated an $0.1 million position during the quarter. The only other fund with a brand new AHH position is Matthew Hulsizer’s PEAK6 Capital Management.
Let’s check out hedge fund activity in other stocks similar to Armada Hoffler Properties Inc (NYSE:AHH). These stocks are CIBER, Inc. (NYSE:CBR), OraSure Technologies, Inc. (NASDAQ:OSUR), Innocoll AG (NASDAQ:INNL), and Electro Rent Corporation (NASDAQ:ELRC). This group of stocks’ market values are similar to AHH’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 12 hedge funds with bullish positions and the average amount invested in these stocks was $28 million. That figure was $24 million in AHH’s case. OraSure Technologies, Inc. (NASDAQ:OSUR) is the most popular stock in this table. On the other hand Innocoll AG (NASDAQ:INNL) is the least popular one with only 5 bullish hedge fund positions. Armada Hoffler Properties Inc (NYSE:AHH) has the level of interest close to the average, compared to the stocks in the table. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard OSUR might be a better candidate to consider a long position.