Lancaster Colony Corp. (LANC): Hedge Fund Sentiment Unchanged

We already know that not all hedge funds are bullish on the stock and some hedge funds actually cut their positions entirely. At the top of the heap, Ken Griffin’s Citadel Investment Group cut the largest stake of the 700 funds followed by Insider Monkey, worth close to $1.6 million in stock, and Matthew Hulsizer’s PEAK6 Capital Management was right behind this move, as the fund dumped about $0.7 million worth of ancaster Colony Corp. (NASDAQ:LANC) shares.

Let’s also examine hedge fund activity in other stocks similar to Lancaster Colony Corp. (NASDAQ:LANC). These stocks are National Instruments Corp (NASDAQ:NATI), PrivateBancorp Inc (NASDAQ:PVTB), ViaSat, Inc. (NASDAQ:VSAT), and HEALTHSOUTH Corp. (NYSE:HLS). This group of stocks’ market values are closest to LANC’s market value.

As you can see these stocks had an average of 23 hedge funds with bullish positions and the average amount invested in these stocks was $836 million. That figure was $254 million in LANC’s case. National Instruments Corp (NASDAQ:NATI) is the most popular stock in this table. On the other hand ViaSat, Inc. (NASDAQ:VSAT) is the least popular one with only 21 bullish hedge fund positions. Compared to these stocks Lancaster Colony Corp. (NASDAQ:LANC) is even less popular than VSAT. 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. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.

Disclosure: none.