The Hain Celestial Group, Inc. (HAIN): Are Hedge Funds Right About This Stock?

As industrywide interest jumped, some big names have been driving this bullishness. Corvex Capital initiated the biggest position in The Hain Celestial Group, Inc. (NASDAQ:HAIN). Christopher James’s Partner Fund Management also initiated a $34.1 million position during the quarter. The other funds with new positions in the stock are Jim Simons’ Renaissance Technologies, Alec Litowitz and Ross Laser’s Magnetar Capital, and James Dondero’s Highland Capital Management.

Let’s check out hedge fund activity in other stocks similar to The Hain Celestial Group, Inc. (NASDAQ:HAIN). We will take a look at Highwoods Properties Inc (NYSE:HIW), Zions Bancorporation (NASDAQ:ZION), Dicks Sporting Goods Inc (NYSE:DKS), and Parsley Energy Inc (NYSE:PE). This group of stocks’ market valuations are similar to HAIN’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
HIW 5 94726 -5
ZION 39 471895 -1
DKS 41 690241 -3
PE 47 1139354 6

As you can see these stocks had an average of 33 hedge funds with bullish positions and the average amount invested in these stocks was $599 million. That figure was $388 million in HAIN’s case. Parsley Energy Inc (NYSE:PE) is the most popular stock in this table. On the other hand Highwoods Properties Inc (NYSE:HIW) is the least popular one with only 5 bullish hedge fund positions. The Hain Celestial Group, Inc. (NASDAQ:HAIN) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard Parsley Energy Inc (NYSE:PE) might be a better candidate to consider a long position.