Is B&G Foods, Inc. (BGS) Going to Burn These Hedge Funds?

Consequently, key hedge funds were leading the bulls’ herd. Highbridge Capital Management, managed by Glenn Russell Dubin, established the biggest position in B&G Foods, Inc. (NYSE:BGS). Highbridge Capital Management had $5.1 million invested in the company at the end of the quarter. Ken Fisher’s Fisher Asset Management also initiated a $2.9 million position during the quarter. The other funds with new positions in the stock are Alex Duran and Scott Hendrickson’s Permian Investment Partners, Ira Unschuld’s Brant Point Investment Management, and Paul Tudor Jones’s Tudor Investment Corp.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as B&G Foods, Inc. (NYSE:BGS) but similarly valued. These stocks are Time Inc (NYSE:TIME), Generac Holdings Inc. (NYSE:GNRC), Triumph Group Inc (NYSE:TGI), and Acadia Realty Trust (NYSE:AKR). This group of stocks’ market values match BGS’s market value.

As you can see these stocks had an average of 17 hedge funds with bullish positions and the average amount invested in these stocks was $181 million. That figure was $133 million in BGS’s case. Triumph Group Inc (NYSE:TGI) is the most popular stock in this table. On the other hand Acadia Realty Trust (NYSE:AKR) is the least popular one with only 10 bullish hedge fund positions. B&G Foods, Inc. (NYSE:BGS) 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 despite the number of funds long BGS increasing by 45% quarter over quarter. In this regard TGI might be a better candidate to consider a long position.