Is Angie’s List Inc (ANGI) A Good Stock To Buy?

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that dumped their entire stakes in the stock during the third quarter. Interestingly, Spencer M. Waxman’s Shannon River Fund Management dumped the biggest position of all the investors watched by Insider Monkey, comprising close to $1.8 million in stock. Peter Muller’s fund, PDT Partners, also sold off its stock, about $0.1 million worth.

Let’s go over hedge fund activity in other stocks similar to Angie’s List Inc (NASDAQ:ANGI). We will take a look at M/I Homes Inc (NYSE:MHO), Bojangles Inc (NASDAQ:BOJA), Regis Corporation (NYSE:RGS), and Rayonier Advanced Materials Inc (NYSE:RYAM). This group of stocks’ market values are similar to ANGI’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 $91 million. That figure was $77 million in ANGI’s case. Rayonier Advanced Materials Inc (NYSE:RYAM) is the most popular stock in this table. On the other hand M/I Homes Inc (NYSE:MHO) is the least popular one with only 9 bullish hedge fund positions. Angie’s List Inc (NASDAQ:ANGI) 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 RYAM might be a better candidate to consider taking a long position in.

Disclosure: None