Is A. Schulman Inc (SHLM) A Good Stock To Buy?

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that said goodbye to their entire stakes in the stock during the third quarter. Interestingly, Millennium Management, one of the 10 largest hedge funds in the world, said goodbye to the largest position of all the hedgies followed by Insider Monkey, worth close to $6 million in stock. Ira Unschuld’s fund, Brant Point Investment Management, also said goodbye to its stock, about $3.6 million worth.

Let’s also examine hedge fund activity in other stocks similar to A. Schulman Inc (NASDAQ:SHLM). These stocks are Duluth Holdings Inc (NASDAQ:DLTH), Air Transport Services Group Inc. (NASDAQ:ATSG), Universal Health Realty Income Trust (NYSE:UHT), and Caretrus REIT Inc (NASDAQ:CTRE). This group of stocks’ market caps resemble SHLM’s market cap.

As you can see these stocks had an average of 10.25 hedge funds with bullish positions and the average amount invested in these stocks was $90 million. That figure was $77 million in SHLM’s case. Air Transport Services Group Inc. (NASDAQ:ATSG) is the most popular stock in this table. On the other hand Universal Health Realty Income Trust (NYSE:UHT) is the least popular one with only 5 bullish hedge fund positions. A. Schulman Inc (NASDAQ:SHLM) 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 ATSG might be a better candidate to consider taking a long position in.

Disclosure: None