Is ANI Pharmaceuticals Inc (ANIP) a Good Stock To Buy?

With a general bullishness amongst the heavyweights, key hedge funds have been driving this bullishness. Brian Taylor’s Pine River Capital Management created the most valuable position in ANI Pharmaceuticals Inc (NASDAQ:ANIP) which invested $3.3 million  in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also made a $2.2 million investment in the stock during the quarter. The following funds were also among the new ANIP investors: Mike Vranos’ Ellington, Paul Tudor Jones’ Tudor Investment Corp, and Vishal Saluja and Pham Quang’s Endurant Capital Management.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as ANI Pharmaceuticals Inc (NASDAQ:ANIP) but similarly valued. These stocks are Diamond Hill Investment Group, Inc. (NASDAQ:DHIL), Marten Transport, Ltd (NASDAQ:MRTN), Meritor Inc (NYSE:MTOR), and MINDBODY Inc (NASDAQ:MB). This group of stocks’ market caps are similar to ANIP’s market cap.

As you can see these stocks had an average of 14 funds with bullish positions and the average amount invested in these stocks was $114 million. That figure was $76 million in ANIP’s case. Meritor Inc (NYSE:MTOR) is the most popular stock in this table. On the other hand Diamond Hill Investment Group, Inc. (NASDAQ:DHIL) is the least popular one with only five bullish hedge fund positions. ANI Pharmaceuticals Inc (NASDAQ:ANIP) 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 Meritor Inc (NYSE:MTOR) might be a better candidate to consider taking a long position in.

Disclosure: None