How Smart Money Is Trading Team, Inc. (TISI)?

With a general bullishness amongst the heavyweights, key money managers were breaking ground themselves. Renaissance Technologies established the biggest new position in Team, Inc. (NYSE:TISI). The fund had $1.8 million invested in the company at the end of the quarter. Arrowstreet Capital also made a $1.5 million investment in the stock during the quarter. The other funds with new positions in the stock are Israel Englander’s Millennium Management, D E Shaw, and Ken Griffin’s Citadel Investment Group.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Team, Inc. (NYSE:TISI) but similarly valued. We will take a look at Live Oak Bancshares Inc (NASDAQ:LOB), Gigamon Inc (NYSE:GIMO), Kulicke and Soffa Industries Inc. (NASDAQ:KLIC), and Textura Corp (NYSE:TXTR). This group of stocks’ market values resembles Team, Inc. (NYSE:TISI)’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 $51 million. That figure was $74 million in Team, Inc. (NYSE:TISI)’s case. Gigamon Inc (NYSE:GIMO) is the most popular stock in this table, while Textura Corp (NYSE:TXTR) is the least popular one with only 6 bullish hedge fund positions. Team, Inc. (NYSE: TISI) 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 Gigamon Inc (NYSE:GIMO) might be a better candidate to consider a long position.