Is Comtech Telecomm. Corp. (CMTL) Going to Burn These Hedge Funds?

Seeing as Comtech Telecomm. Corp. (NASDAQ:CMTL) has encountered a falling interest from the entirety of the hedge funds we track, logic holds that there lies a certain “tier” of funds that elected to cut their entire stakes last quarter. Interestingly, Jean-Marie Eveillard’s First Eagle Investment Management sold off the biggest investment of the 700 funds monitored by Insider Monkey, valued at about $13.1 million in stock. Paul Tudor Jones’ fund, Tudor Investment Corp, also sold off its stock, about $2.9 million worth.

Let’s now review hedge fund activity in other stocks similar to Comtech Telecomm. Corp. (NASDAQ:CMTL). We will take a look at Stemline Therapeutics Inc (NASDAQ:STML), Medgenics Inc (NADAQ:MDGN), Evolution Petroleum Corporation (NYSEMKT:EPM), and Newtek Business Services, Inc (NASDAQ:NEWT). All of these stocks’ market caps are closest to CMTL’s market cap.

As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $20 million. That figure was $43 million in CMTL’s case. Stemline Therapeutics Inc (NASDAQ:STML) is the most popular stock in this table. On the other hand Evolution Petroleum Corporation (NYSEMKT:EPM) is the least popular one with only 6 bullish hedge fund positions. Comtech Telecomm. Corp. (NASDAQ:CMTL) 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 STML might be a better candidate to consider taking a long position in.

Disclosure: none