As one would reasonably expect, key money managers were leading the bulls’ herd. Columbus Circle Investors created the biggest position in US Concrete Inc (NASDAQ:USCR). Columbus Circle Investors had $9.3 million invested in the company at the end of the quarter. Neil Chriss’s Hutchin Hill Capital also initiated a $1.2 million position during the quarter. The other funds with new positions in the stock are D. E. Shaw’s D E Shaw, Mark Coe’s Coe Capital Management, and Matthew Tewksbury’s Stevens Capital Management.
Let’s also examine hedge fund activity in other stocks similar to US Concrete Inc (NASDAQ:USCR). These stocks are Northfield Bancorp Inc (NASDAQ:NFBK), Regis Corporation (NYSE:RGS), Integrated Silicon Solution, Inc. (NASDAQ:ISSI), and Wix.Com Ltd (NASDAQ:WIX). This group of stocks’ market valuations resemble USCR’s market valuation.
|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 13 hedge funds with bullish positions and the average amount invested in these stocks was $131 million. That figure was $118 million in USCR’s case. Regis Corporation (NYSE:RGS) is the most popular stock in this table. On the other hand Northfield Bancorp Inc (NASDAQ:NFBK) is the least popular one with only 7 bullish hedge fund positions. Compared to these stocks US Concrete Inc (NASDAQ:USCR) 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.