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Is Modine Manufacturing Co. (MOD) Going to Burn These Hedge Funds?

As one would reasonably expect, key hedge funds were breaking ground themselves. Whitebox Advisors, managed by Andy Redleaf, initiated the largest position in Modine Manufacturing Co. (NYSE:MOD). Whitebox Advisors had $2.1 million invested in the company at the end of the quarter.

Let’s now take a look at hedge fund activity in other stocks similar to Modine Manufacturing Co. (NYSE:MOD). We will take a look at Credit Suisse AG- VelocityShares Daily Inverse VIX Short Term Etn (NASDAQ:XIV), Karyopharm Therapeutics Inc (NASDAQ:KPTI), Davids Tea Inc (NASDAQ:DTEA), and NewStar Financial Inc (NASDAQ:NEWS). This group of stocks’ market caps resemble MOD’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
XIV 11 25345 6
KPTI 11 65394 1
DTEA 4 2238 -3
NEWS 8 108742 1

As you can see these stocks had an average of 9 hedge funds with bullish positions and the average amount invested in these stocks was $50 million, compared to $40 million in MOD’s case. Credit Suisse AG- VelocityShares Daily Inverse VIX Short Term Etn (NASDAQ:XIV) is the most popular stock in this table. On the other hand Davids Tea Inc (NASDAQ:DTEA) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Modine Manufacturing Co. (NYSE:MOD) 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.

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