With a general bullishness amongst the heavyweights, some big names were breaking ground themselves. Ken Grossman and Glen Schneider’s SG Capital Management created the biggest position in Del Taco Restaurants Inc (NASDAQ:TACO). SG Capital Management had $8.8 million invested in the company at the end of the quarter. Richard Driehaus’ Driehaus Capital also made a $3.3 million investment in the stock during the quarter. The other funds with new positions in the stock are Chuck Royce’s Royce & Associates, Mark Coe’s Coe Capital Management, and Adam Wright and Gary Kohler’s Blue Clay Capital. We should note that SG Capital Management is among our list of the 100 best performing hedge funds which is based on the performance of their 13F long positions in non-microcap stocks.
Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Del Taco Restaurants Inc (NASDAQ:TACO) but similarly valued. We will take a look at KEYW Holding Corp. (NASDAQ:KEYW), Intersect ENT Inc (NASDAQ:XENT), Vicor Corp (NASDAQ:VICR), and Village Super Market, Inc. (NASDAQ:VLGEA). This group of stocks’ market values are similar to TACO’s market value.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see these stocks had an average of eight hedge funds with bullish positions and the average amount invested in these stocks was $38 million, compared to $80 million in TACO’s case. Intersect ENT Inc (NASDAQ:XENT) is the most popular stock in this table. On the other hand Village Super Market, Inc. (NASDAQ:VLGEA) is the least popular one with only five bullish hedge fund positions. Compared to these stocks Del Taco Restaurants Inc (NASDAQ:TACO) 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.