SUPERVALU INC. (SVU): Are Hedge Funds Right About This Stock?

Consequently, key hedge funds have been driving this bullishness. Glenhill Advisors, managed by Glenn J. Krevlin, assembled the largest position in SUPERVALU INC. (NYSE:SVU). Glenhill Advisors had $14.3 million invested in the company at the end of the quarter. Don Morgan’s Brigade Capital also made a $9.2 million investment in the stock during the quarter. The other funds with new positions in the stock are Jim Simons’ Renaissance Technologies, Steve Cohen’s Point72 Asset Management, and Malcolm Fairbairn’s Ascend Capital.

Let’s now review hedge fund activity in other stocks similar to SUPERVALU INC. (NYSE:SVU). We will take a look at Deckers Outdoor Corp (NASDAQ:DECK), Anixter International Inc. (NYSE:AXE), Superior Energy Services, Inc. (NYSE:SPN), and Meredith Corporation (NYSE:MDP). This group of stocks’ market values are similar to SVU’s market value.

As you can see these stocks had an average of 24 hedge funds with bullish positions and the average amount invested in these stocks was $391 million. That figure was $397 million in SVU’s case. Deckers Outdoor Corp (NASDAQ:DECK) is the most popular stock in this table. On the other hand Meredith Corporation (NYSE:MDP) is the least popular one with only 17 bullish hedge fund positions. Compared to these stocks SUPERVALU INC. (NYSE:SVU) 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.