TriMas Corp (TRS): Are Hedge Funds Right About This Stock?

As aggregate interest increased, some big names have been driving this bullishness. Neil Chriss’ Hutchin Hill Capital established the most outsized position in TriMas Corp (NASDAQ:TRS). Hutchin Hill Capital had $0.8 million invested in the company at the end of the quarter. Glenn Russell Dubin’s Highbridge Capital Management also made a $0.5 million investment in the stock during the quarter. The only other fund with a new position in the stock is Cliff Asness’ AQR Capital Management.

Let’s go over hedge fund activity in other stocks similar to TriMas Corp (NASDAQ:TRS). These stocks are Transocean Partners LLC (NYSE:RIGP), Insys Therapeutics Inc (NASDAQ:INSY), Fifth Street Finance Corp. (NASDAQ:FSC), and Southside Bancshares, Inc. (NASDAQ:SBSI). All of these stocks’ market caps are closest to TRS’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
RIGP 8 68835 2
INSY 22 221640 5
FSC 11 15348 0
SBSI 6 33580 0

As you can see these stocks had an average of 12 investors holding long positions and the average amount invested in these stocks was $85 million. That figure was $73 million in TRS’s case. Insys Therapeutics Inc (NASDAQ:INSY) is the most popular stock in this table. On the other hand Southside Bancshares, Inc. (NASDAQ:SBSI) is the least popular one with only six bullish hedge fund positions. TriMas Corp (NASDAQ:TRS) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard Insys Therapeutics Inc (NASDAQ:INSY) might be a better candidate to consider taking a long position in.

Disclosure: None