Do Hedge Funds Love Lindsay Corporation (LNN)?

Seeing as Lindsay Corporation (NYSE:LNN) has faced bearish sentiment from hedge fund managers, it’s easy to see that there were a few hedge funds that decided to sell off their positions entirely by the end of the third quarter. Interestingly, Eric Sprott’s Sprott Asset Management sold off the largest stake of the 700 funds followed by Insider Monkey, worth close to $0.9 million in stock. Paul Marshall and Ian Wace’s fund, Marshall Wace LLP, also dumped its stock, about $0.8 million worth.

Let’s now review hedge fund activity in other stocks similar to Lindsay Corporation (NYSE:LNN). We will take a look at Mitel Networks Corporation (NASDAQ:MITL), Glaukos Corp (NYSE:GKOS), GasLog Ltd (NYSE:GLOG), and Par Pacific Holdings, Inc. (NYSEMKT:PARR). This group of stocks’ market values are similar to LNN’s market value.

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 $107 million. That figure was $98 million in LNN’s case. GasLog Ltd (NYSE:GLOG) is the most popular stock in this table. On the other hand Glaukos Corp (NYSE:GKOS) is the least popular one with only 6 bullish hedge fund positions. Lindsay Corporation (NYSE:LNN) 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 GLOG might be a better candidate to consider a long position.