What Smart Money Thinks of American Midstream Partners LP (AMID)?

As one would reasonably expect, specific money managers have been driving this bullishness. Driehaus Capital established the most outsized position in American Midstream Partners LP (NYSE:AMID) which had $1.8 million invested in the company at the end of the quarter. Springbok Capital also initiated a $0.5 million position during the quarter. The only other fund with a new position in the stock is Ken Griffin’s Citadel Investment Group.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as American Midstream Partners LP (NYSE:AMID) but similarly valued. We will take a look at Ring Energy Inc (NYSEMKT:REI), Hawkins, Inc. (NASDAQ:HWKN), MFS Multimarket Income Trust (NYSE:MMT), and Vocera Communications Inc (NYSE:VCRA). All of these stocks’ market caps are closest to AMID’s market cap.

As you can see these stocks had an average of eight hedge funds with bullish positions and the average amount invested in these stocks was $48 million. That figure was $14 million in AMID’s case. Vocera Communications Inc (NYSE:VCRA) is the most popular stock in this table. On the other hand Hawkins, Inc. (NASDAQ:HWKN) and MFS Multimarket Income Trust (NYSE:MMT) are the least popular with only four bullish hedge fund positions. American Midstream Partners LP (NYSE:AMID) 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 VCRA might be a better candidate to consider taking a long position in.

Disclosure: None