Should You Buy Intrawest Resorts Holdings Inc (SNOW)?

With a general bullishness amongst the heavyweights, specific money managers were leading the bulls’ herd. Southeastern Asset Management assembled the largest position in Intrawest Resorts Holdings Inc (NYSE:SNOW). Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital also initiated a $0.4 million position during the quarter. The following funds were also among the new SNOW investors: Joel Greenblatt’s Gotham Asset Management and Cliff Asness’ AQR Capital Management.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Intrawest Resorts Holdings Inc (NYSE:SNOW) but similarly valued. These stocks are Endeavour Silver Corp. (CAN) (NYSE:EXK), Vitamin Shoppe Inc (NYSE:VSI), Chase Corporation (NYSEAMEX:CCF), and NeoGenomics, Inc. (NASDAQ:NEO). This group of stocks’ market caps match SNOW’s market cap.

As you can see these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $65 million. That figure was $36 million in SNOW’s case. Vitamin Shoppe Inc (NYSE:VSI) is the most popular stock in this table. On the other hand Endeavour Silver Corp. (CAN) (NYSE:EXK) is the least popular one with only 8 bullish hedge fund positions. Intrawest Resorts Holdings Inc (NYSE:SNOW) 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 VSI might be a better candidate to consider taking a long position in.

Disclosure: None