How Imation Corp. (IMN) Stacks Up Against Its Peers

We already know that not all hedge funds are bullish on the stock and some hedge funds actually cut their positions entirely. It’s worth mentioning that Ben Levine, Andrew Manuel and Stefan Renold’s LMR Partners cut the biggest stake of the 700 funds monitored by Insider Monkey, comprising about $0.1 million in stock, and Ken Griffin’s Citadel Investment Group was right behind this move, as the fund cut its small position in the stock.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Imation Corp. (NYSE:IMN) but similarly valued. We will take a look at Echelon Corporation (NASDAQ:ELON), Mast Therapeutics Inc (NYSEAMEX:MSTX), SMTC Corporation (USA) (NASDAQ:SMTX), and Windtree Therapeutics Inc (NASDAQ:WINT). All of these stocks’ market caps are closest to IMN’s market cap.

As you can see these stocks had an average of 5 hedge funds with bullish positions and the average amount invested in these stocks was $4 million. That figure was $9 million in IMN’s case. Windtree Therapeutics Inc (NASDAQ:WINT) is the most popular stock in this table. On the other hand SMTC Corporation (USA) (NASDAQ:SMTX) is the least popular one with only 3 bullish hedge fund positions. Imation Corp. (NYSE:IMN) 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 WINT might be a better candidate to consider taking a long position in.

Disclosure: None