John B. Sanfilippo & Son, Inc. (JBSS): What Hedge Funds Think about This Stock?

We already know that not all hedge funds are bullish on the stock and some hedge funds actually got rid of their positions entirely. It’s worth mentioning that D E Shaw, one of the biggest hedge funds in the world, got rid of the biggest position of all the investors followed by Insider Monkey, comprising an estimated $0.5 million in stock, and Michael Platt and William Reeves’ BlueCrest Capital Mgmt. was right behind this move, as the fund sold off about $0.3 million worth of shares.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as John B. Sanfilippo & Son, Inc. (NASDAQ:JBSS) but similarly valued. We will take a look at Middlesex Water Company (NASDAQ:MSEX), Encore Capital Group, Inc. (NASDAQ:ECPG), AeroVironment, Inc. (NASDAQ:AVAV), and Epizyme Inc (NASDAQ:EPZM). This group of stocks’ market caps are closest to JBSS’s market cap.

As you can see these stocks had an average of eight funds with bullish positions and the average amount invested in these stocks was $47 million, versus $82 million in JBSS’s case. Epizyme Inc (NASDAQ:EPZM) is the most popular stock in this table, while AeroVironment, Inc. (NASDAQ:AVAV) is the least popular one with only five bullish hedge fund positions. John B. Sanfilippo & Son, Inc. (NASDAQ:JBSS) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard Epizyme Inc (NASDAQ:EPZM) might be a better candidate to consider taking a long position in.

Disclosure: none