Is Griffon Corporation (GFF) A Good Stock to Buy?

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Consequently, key money managers were leading the bulls’ herd. Citadel Investment Group, led by Ken Griffin, assembled the most valuable position in Griffon Corporation (NYSE:GFF). Citadel Investment Group had $1.6 million invested in the company at the end of the quarter. Michael Platt and William Reeves’ BlueCrest Capital Mgmt also made a $0.2 million investment in the stock during the quarter.

Let’s now take a look at hedge fund activity in other stocks similar to Griffon Corporation (NYSE:GFF). These stocks are MINDBODY Inc (NASDAQ:MB), Central Pacific Financial Corp. (NYSE:CPF), Lattice Semiconductor (NASDAQ:LSCC), and MedEquities Realty Trust Inc (NYSE:MRT). This group of stocks’ market valuations are closest to GFF’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
MB 20 135969 8
CPF 11 55016 -1
LSCC 11 24582 6
MRT 14 75213 14

As you can see these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $73 million. That figure was $125 million in GFF’s case. MINDBODY Inc (NASDAQ:MB) is the most popular stock in this table. On the other hand LSCC and CPF are the least popular ones with only 11 bullish hedge fund positions. Compared to these stocks Griffon Corporation (NYSE:GFF) is only as popular as CPF and LSCC. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock.

Disclosure: None

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