Should You Buy Nomad Foods Limited (NOMD)?

With a general bullishness amongst the heavyweights, key money managers were leading the bulls’ herd. Tricadia Capital Management, led by Michael Barnes and Arif Inayatullah, created the biggest position in Nomad Foods Limited Ordinary Shares (NYSE:NOMD). According to regulatory filings, the fund had $7.9 million invested in the company at the end of the quarter. Paul Marshall and Ian Wace’s Marshall Wace LLP also initiated a $6.6 million position during the quarter. The other funds with brand new NOMD positions are Paul Tudor Jones’ Tudor Investment Corp, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, and Murray Stahl’s Horizon Asset Management.

Let’s now review hedge fund activity in other stocks similar to Nomad Foods Limited Ordinary Shares (NYSE:NOMD). We will take a look at Interval Leisure Group, Inc. (NASDAQ:IILG), Press Ganey Holdings Inc (NYSE:PGND), Alexander’s, Inc. (NYSE:ALX), and Itron, Inc. (NASDAQ:ITRI). All of these stocks’ market caps resemble NOMD’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
IILG 20 284871 -8
PGND 18 137139 3
ALX 6 94434 0
ITRI 19 447778 3

As you can see these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $241 million. That figure was a whooping $1.07 billion in NOMD’s case. Interval Leisure Group, Inc. (NASDAQ:IILG) is the most popular stock in this table. On the other hand Alexander’s, Inc. (NYSE:ALX) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks Nomad Foods Limited Ordinary Shares (NYSE:NOMD) 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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Disclosure: None