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The Case for Adding Briggs & Stratton Corporation (BGG) to Your Portfolio

As one would reasonably expect, key hedge funds have jumped into Briggs & Stratton Corporation (NYSE:BGG) headfirst. Gotham Asset Management initiated the largest position in Briggs & Stratton Corporation (NYSE:BGG). Gotham Asset Management had $9.1 million invested in the company at the end of the quarter. Renaissance Technologies also made an $8.1 million investment in the stock during the quarter. The other funds with brand new BGG positions are Crispin Odey’s Odey Asset Management Group, Neil Chriss’ Hutchin Hill Capital, and Mike Vranos’ Ellington.

Let’s go over hedge fund activity in other stocks similar to Briggs & Stratton Corporation (NYSE:BGG). These stocks are Orion Engineered Carbons SA (NYSE:OEC), Ebix Inc (NASDAQ:EBIX), EnPro Industries, Inc. (NYSE:NPO), and Nuveen Premium Income Municipal Fund Inc (NYSE:NPI). All of these stocks’ market caps are similar to BGG’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
OEC 18 123687 -3
EBIX 12 69282 -2
NPO 19 225981 -2
NPI 4 2577 0

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 $105 million. That figure was $148 million in BGG’s case. EnPro Industries, Inc. (NYSE:NPO) is the most popular stock in this table. On the other hand Nuveen Premium Income Municipal Fund Inc (NYSE:NPI) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Briggs & Stratton Corporation (NYSE:BGG) 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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