Is Superior Uniform Group Inc (NASDAQ:SGC) a good place to invest some of your money right now? We can gain invaluable insight to help us answer that question by studying the investment trends of top investors, who employ world-class Ivy League graduates, who are given immense resources and industry contacts to put their financial expertise to work. The top picks of these firms have historically outperformed the market when we account for known risk factors, making them very valuable investment ideas.
Superior Uniform Group Inc (NASDAQ:SGC) investors should pay attention to an increase in hedge fund interest in recent months, 2 more investors holding the stock at the end of Q3 than at the start of it. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as Electrum Special Acquisition Corp (NASDAQ:ELECU), Sigma Designs Inc (NASDAQ:SIGM), and RadNet Inc. (NASDAQ:RDNT) to gather more data points.
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Follow Superior Group Of Companies Inc. (NASDAQ:SGC)
In today’s marketplace there are several formulas shareholders use to analyze their holdings. A pair of the most under-the-radar formulas are hedge fund and insider trading moves. Our researchers have shown that, historically, those who follow the top picks of the best investment managers can outperform their index-focused peers by a healthy amount (see the details here).
Now, we’re going to take a look at the key action encompassing Superior Uniform Group Inc (NASDAQ:SGC).
How have hedgies been trading Superior Uniform Group Inc (NASDAQ:SGC)?
At the end of the third quarter, a total of 6 of the hedge funds tracked by Insider Monkey were long this stock, a jump of 50% from the second quarter. With hedgies’ capital changing hands, there exists a select group of key hedge fund managers who were increasing their holdings significantly (or had already accumulated large positions).
According to Insider Monkey’s hedge fund database, Brandon Osten’s Venator Capital Management has the most valuable position in Superior Uniform Group Inc (NASDAQ:SGC), worth close to $9.3 million, comprising 12.9% of its total 13F portfolio. The second-largest stake is held by Renaissance Technologies, with a $3.9 million position; the fund has less than 0.1% of its 13F portfolio invested in the stock. Some other members of the smart money that hold long positions contain Richard Driehaus’ Driehaus Capital, Peter Algert and Kevin Coldiron’s Algert Coldiron Investors, and Cliff Asness’ AQR Capital Management.
As aggregate interest increased, some big names have jumped into Superior Uniform Group Inc (NASDAQ:SGC) headfirst. Algert Coldiron Investors created the most valuable position in Superior Uniform Group Inc (NASDAQ:SGC). Algert Coldiron Investors had $0.6 million invested in the company at the end of the quarter. Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital also made a small investment in the stock during the quarter.
Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Superior Uniform Group Inc (NASDAQ:SGC) but similarly valued. These stocks are Electrum Special Acquisition Corp (NASDAQ:ELECU), Sigma Designs Inc (NASDAQ:SIGM), RadNet Inc. (NASDAQ:RDNT), and Kandi Technolgies Corp. (NASDAQ:KNDI). This group of stocks’ market caps resemble Superior Uniform Group Inc’s market cap.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| ELECU | 17 | 120351 | -1 |
| SIGM | 21 | 33221 | 2 |
| RDNT | 14 | 33702 | 0 |
| KNDI | 4 | 976 | 0 |
As you can see these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $47 million. That figure was $16 million in Superior Uniform Group Inc’s case. Sigma Designs Inc (NASDAQ:SIGM) is the most popular stock in this table. On the other hand Kandi Technolgies Corp. (NASDAQ:KNDI) is the least popular one with only 4 bullish hedge fund positions. Superior Uniform Group Inc (NASDAQ:SGC) 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 Sigma Designs Inc might be a better candidate to consider for a long position.
