Here is What Hedge Funds Think About Financial Engines Inc (FNGN)

Consequently, some big names were leading the bulls’ herd. Stevens Capital Management, led by Matthew Tewksbury, established the largest position in Financial Engines Inc (NASDAQ:FNGN). Stevens Capital Management had $0.4 million invested in the company at the end of the quarter. Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital also initiated a position during the third quarter.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Financial Engines Inc (NASDAQ:FNGN) but similarly valued. These stocks are Pretium Resources Inc (NYSE:PVG), DiamondRock Hospitality Company (NYSE:DRH), KapStone Paper and Packaging Corp. (NYSE:KS), and Applied Industrial Technologies (NYSE:AIT). This group of stocks’ market values resemble FNGN’s market value.

As you can see these stocks had an average of 14 investors with bullish positions and the average amount invested in these stocks was $106 million, versus $49 million in FNGN’s case. KapStone Paper and Packaging Corp. (NYSE:KS) is the most popular stock in this table. On the other hand Pretium Resources Inc (NYSE:PVG) is the least popular one with only 12 bullish hedge fund positions. Financial Engines Inc (NASDAQ:FNGN) 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 KapStone Paper and Packaging Corp. (NYSE:KS) might be a better candidate to consider taking a long position in.

Disclosure: none