Hedge Funds Are Buying Barnes & Noble Education Inc (BNED)

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Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Barnes & Noble Education Inc (NYSE:BNED) but similarly valued. We will take a look at eLong, Inc. (ADR) (NASDAQ:LONG), MINDBODY Inc (NASDAQ:MB), Performance Sports Group Ltd (NYSE:PSG), and Patrick Industries, Inc. (NASDAQ:PATK). This group of stocks’ market valuations resemble BNED’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
LONG 4 47125 0
MB 9 24341 -7
PSG 11 24505 0
PATK 18 105827 -1

As you can see these stocks had an average of 10.5 hedge funds with bullish positions and the average amount invested in these stocks was $50 million. That figure was $158 million in BNED’s case. Patrick Industries, Inc. (NASDAQ:PATK) is the most popular stock in this table. On the other hand eLong, Inc. (ADR) (NASDAQ:LONG) is the least popular one with only four bullish hedge fund positions. Compared to these stocks Barnes & Noble Education Inc (NYSE:BNED) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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