Is Celadon Group, Inc. (CGI) Going to Burn These Hedge Funds?

Consequently, specific money managers were leading the bulls’ herd. Scopus Asset Management assembled the largest position in Celadon Group, Inc. (NYSE:CGI), followed by Ken Griffin’s Citadel Investment Group. The other funds with brand new CGI positions are Royce & Associates, Renaissance Technologies, and Neil Chriss’s Hutchin Hill Capital.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Celadon Group, Inc. (NYSE:CGI) but similarly valued. We will take a look at Natural Grocers by Vitamin Cottage Inc (NYSE:NGVC), Landcadia Holdings Inc. (NASDAQ:LCAHU), Easterly Acquisition Corp (NASDAQ:EACQ), and Hovnanian Enterprises, Inc. (NYSE:HOV). All of these stocks’ market caps resemble CGI’s market cap.

As you can see these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $65 million. That figure was $13 million in CGI’s case. Landcadia Holdings Inc. (NASDAQ:LCAHU) is the most popular stock in this table. On the other hand Natural Grocers by Vitamin Cottage Inc (NYSE:NGVC) is the least popular one with only 6 bullish hedge fund positions. Celadon Group, Inc. (NYSE:CGI) 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. In this regard LCAHU might be a better candidate to consider taking a long position in.

Disclosure: None