Consequently, key money managers have jumped into MarineMax Inc (NYSE:HZO) headfirst. Renaissance Technologies, managed by Jim Simons, established the largest position in MarineMax Inc (NYSE:HZO). Renaissance Technologies had $1.4 million invested in the company at the end of the quarter. John Overdeck and David Siegel’s Two Sigma Advisors also initiated a $0.9 million position during the quarter. The other funds with new positions in the stock are Joel Greenblatt’s Gotham Asset Management, Peter Algert and Kevin Coldiron’s Algert Coldiron Investors, and Mike Vranos’ Ellington.
Let’s now take a look at hedge fund activity in other stocks similar to MarineMax Inc (NYSE:HZO). We will take a look at Tower International Inc (NYSE:TOWR), Celldex Therapeutics, Inc. (NASDAQ:CLDX), Donegal Group Inc (NASDAQ:DGICA), and Meta Financial Group Inc. (NASDAQ:CASH). All of these stocks’ market caps resemble HZO’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 10.5 hedge funds with bullish positions and the average amount invested in these stocks was $47 million. That figure was $64 million in HZO’s case. Meta Financial Group Inc. (NASDAQ:CASH) is the most popular stock in this table. On the other hand Donegal Group Inc (NASDAQ:DGICA) is the least popular one with only 3 bullish hedge fund positions. Compared to these stocks MarineMax Inc (NYSE:HZO) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, and that several major funds added the stock to their portfolios in Q3, it may be a good idea to analyze it in detail and potentially include it in your own portfolio.