As aggregate interest increased, some big names have jumped into Triangle Capital Corporation (NYSE:TCAP) headfirst. Raiff Partners initiated the largest position in Triangle Capital Corporation (NYSE:TCAP). David E. Shaw’s D E Shaw also made a $0.6 million investment in the stock during the quarter. The only other fund with a brand new TCAP position was Ken Griffin’s Citadel Investment Group.
Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Triangle Capital Corporation (NYSE:TCAP) but similarly valued. We will take a look at U.S. Physical Therapy, Inc. (NYSE:USPH), Griffon Corporation (NYSE:GFF), MINDBODY Inc (NASDAQ:MB), and Central Pacific Financial Corp. (NYSE:CPF). This group of stocks’ market caps are similar to TCAP’s market cap.
|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 14 hedge funds with bullish positions and the average amount invested in these stocks was $98 million. That figure was $9 million in TCAP’s case. MINDBODY Inc (NASDAQ:MB) is the most popular stock in this table. On the other hand Griffon Corporation (NYSE:GFF) is the least popular one with only 11 bullish hedge fund positions. Compared to these stocks Triangle Capital Corporation (NYSE:TCAP) is even less popular than GFF. 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.