Is Cintas Corporation (CTAS) Worth Your Attention?

With a general bullishness amongst the heavyweights, key hedge funds were breaking ground themselves. Marshall Wace LLP, managed by Paul Marshall and Ian Wace, established the largest position in Cintas Corporation (NASDAQ:CTAS). Marshall Wace LLP had $57.9 million invested in the company at the end of the quarter. Israel Englander’s Millennium Management also initiated a $34.5 million position during the quarter. The following funds were also among the new CTAS investors: Alexander Mitchell’s Scopus Asset Management, Doug Gordon, Jon Hilsabeck and Don Jabro’s Shellback Capital, and Matthew Tewksbury’s Stevens Capital Management.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Cintas Corporation (NASDAQ:CTAS) but similarly valued. We will take a look at Hasbro, Inc. (NASDAQ:HAS), Harris Corporation (NYSE:HRS), Fiat Chrysler Automobiles NV (NYSE:FCAU), and Macy’s, Inc. (NYSE:M). This group of stocks’ market caps are closest to CTAS’s market cap.

As you can see these stocks had an average of 35 funds holding shares and the average amount invested in these stocks was $711 million. That figure was $588 million in CTAS’s case. Macy’s, Inc. (NYSE:M) is the most popular stock in this table. On the other hand Hasbro, Inc. (NASDAQ:HAS) is the least popular one with only 22 bullish hedge fund positions. Cintas Corporation (NASDAQ:CTAS) 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 Macy’s, Inc. (NYSE:M) might be a better candidate to consider a long position.