Smart Money Is Gaining Confidence In AAR Corp. (AIR)

Now, some big names were leading the bulls’ herd. Millennium Management initiated the most valuable position in AAR Corp. (NYSE:AIR). Millennium Management had $3.9 million invested in the company at the end of the quarter. Arrowstreet Capital also made a $2.6 million investment in the stock during the quarter. The other funds with brand new AAR Corp. (NYSE:AIR) positions are Ken Griffin’s Citadel Investment Group, David Costen Haley’s HBK Investments, and Chao Ku’s Nine Chapters Capital Management.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as AAR Corp. (NYSE:AIR) but similarly valued. These stocks are CenterState Banks Inc (NASDAQ:CSFL), ArcBest Corp (NASDAQ:ARCB), Baytex Energy Corp (USA) (NYSE:BTE), and First NBC Bank Holding Company (NASDAQ:FNBC). This group of stocks’ market values is closest to AAR Corp. (NYSE:AIR)’s market value.

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 $53 million. Among these stocks, ArcBest Corp (NASDAQ:ARCB) bagged the largest number of hedge fund holdings, 17, whereas First NBC Bank Holding Company (NASDAQ:FNBC) witnessed a negative investor sentiment, losing hedge fund holdings by 2 to 10 hedge funds only. Compared to these stocks AAR Corp. (NYSE:AIR) is more popular among hedge funds, with an aggregate value of holdings of $51 million. Considering that hedge funds are fond of this stock compared to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.