Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Is Astronics Corporation (ATRO) Going to Burn These Hedge Funds?

With a general bullishness amongst the heavyweights, specific money managers were leading the bulls’ herd. Hawk Ridge Management initiated the biggest position in Astronics Corporation (NASDAQ:ATRO), followed by G2 Investment Partners Management, which made a $0.7 million investment in the stock during the quarter. The following funds were also among the new ATRO investors: Ken Griffin’s Citadel Investment Group and Paul Tudor Jones’ Tudor Investment Corp.

Let’s now review hedge fund activity in other stocks similar to Astronics Corporation (NASDAQ:ATRO). We will take a look at Q2 Holdings Inc (NYSE:QTWO), Tennant Company (NYSE:TNC), Super Micro Computer, Inc. (NASDAQ:SMCI), and Oxford Industries, Inc. (NYSE:OXM). All of these stocks’ market caps resemble ATRO’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
QTWO 12 36339 -2
TNC 10 117320 -2
SMCI 13 49744 3
OXM 15 123548 5

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 $82 million. That figure was $15 million in ATRO’s case. Oxford Industries, Inc. (NYSE:OXM) is the most popular stock in this table. On the other hand Tennant Company (NYSE:TNC) is the least popular one with only 10 bullish hedge fund positions. Compared to these stocks Astronics Corporation (NASDAQ:ATRO) is even less popular than TNC. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.

Disclosure: None