SpartanNash Co (SPTN): Are Hedge Funds Right About This Stock?

As aggregate interest increased, some big names have been driving this bullishness. Stevens Capital Management, managed by Matthew Tewksbury, assembled the biggest position in SpartanNash Co (NASDAQ:SPTN). Stevens Capital Management had $0.5 million invested in the company at the end of the quarter. Peter Muller’s PDT Partners also made a $0.4 million investment in the stock during the quarter. The only other fund with a new position in the stock is Peter Algert and Kevin Coldiron’s Algert Coldiron Investors.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as SpartanNash Co (NASDAQ:SPTN) but similarly valued. We will take a look at Crocs, Inc. (NASDAQ:CROX), Mantech International Corp (NASDAQ:MANT), Adecoagro SA (NYSE:AGRO), and Hortonworks Inc (NASDAQ:HDP). This group of stocks’ market caps resemble SPTN’s market cap.

As you can see these stocks had an average of 15 hedge funds with bullish positions and the average amount invested in these stocks was $169 million. That figure was just $69 million in SPTN’s case. Crocs, Inc. (NASDAQ:CROX) and Hortonworks Inc (NASDAQ:HDP) are leading the pack, while Mantech International Corp (NASDAQ:MANT) is the least popular one with only 13 bullish hedge fund positions. Compared to these stocks SpartanNash Co (NASDAQ:SPTN) 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.