Consequently, key hedge funds were breaking ground themselves. McKinley Capital Management, led by Robert B. Gillam, established the most valuable position in Haverty Furniture Companies, Inc. (NYSE:HVT). McKinley Capital Management had $0.3 million invested in the company at the end of the quarter.
Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Haverty Furniture Companies, Inc. (NYSE:HVT) but similarly valued. These stocks are Xinyuan Real Estate Co., Ltd. (ADR) (NYSE:XIN), Tarena International Inc(ADR) (NASDAQ:TEDU), First Community Bancshares Inc (NASDAQ:FCBC), and Tsakos Energy Navigation Ltd. (NYSE:TNP). This group of stocks’ market valuations resemble HVT’s market valuation.
|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 7 hedge funds with bullish positions and the average amount invested in these stocks was $21 million. That figure was $68 million in HVT’s case. Tsakos Energy Navigation Ltd. (NYSE:TNP) is the most popular stock in this table. On the other hand First Community Bancshares Inc (NASDAQ:FCBC) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Haverty Furniture Companies, Inc. (NYSE:HVT) 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.