Is CECO Environmental Corp. (CECE) Going to Burn These Hedge Funds?

Consequently, key hedge funds have jumped into CECO Environmental Corp. (NASDAQ:CECE) headfirst. Brant Point Investment Management, led by Ira Unschuld, assembled the largest position in CECO Environmental Corp. (NASDAQ:CECE). Brant Point Investment Management had $3 million invested in the company at the end of the quarter. Robert B. Gillam’s McKinley Capital Management also made a $2.1 million investment in the stock during the quarter. The other funds with new positions in the stock are Peter Algert and Kevin Coldiron’s Algert Coldiron Investors, Glenn Russell Dubin’s Highbridge Capital Management, and Neil Chriss’ Hutchin Hill Capital.

Let’s check out hedge fund activity in other stocks similar to CECO Environmental Corp. (NASDAQ:CECE). These stocks are Pioneer Energy Services Corp (NYSE:PES), Tarena International Inc(ADR) (NASDAQ:TEDU), Bank of Marin Bancorp (NASDAQ:BMRC), and Nova Measuring Instruments Ltd. (NASDAQ:NVMI). This group of stocks’ market values are similar to CECE’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
PES 10 4083 -1
TEDU 7 22223 -1
BMRC 5 23383 -1
NVMI 5 30424 -1

As you can see these stocks had an average of 7 hedge funds with bullish positions and the average amount invested in these stocks was $20 million. That figure was $49 million in CECE’s case. Pioneer Energy Services Corp (NYSE:PES) is the most popular stock in this table. On the other hand Bank of Marin Bancorp (NASDAQ:BMRC) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks CECO Environmental Corp. (NASDAQ:CECE) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None