Is CVR Energy, Inc. (CVI) A Good Stock To Buy?

We already know that not all hedge funds are bullish on the stock and some hedge funds actually sold off their positions entirely. It’s worth mentioning that Cliff Asness’ AQR Capital Management sold off the biggest position of all the investors studied by Insider Monkey, worth close to $10 million in stock, and First Eagle Investment Management was right behind this move, as the fund sold off about $2.6 million worth of shares.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as CVR Energy, Inc. (NYSE:CVI) but similarly valued. We will take a look at Western Refining Logistics LP(NYSE:WNRL), iRobot Corporation (NASDAQ:IRBT), COMSCORE, Inc. (NASDAQ:SCOR), and ESCO Technologies Inc. (NYSE:ESE). This group of stocks’ market valuations are similar to CVI’s market valuation.

As you can see these stocks had an average of 9 hedge funds with bullish positions and the average amount invested in these stocks was $97 million. That figure was $1012 million in CVI’s case. COMSCORE, Inc. (NASDAQ:SCOR) is the most popular stock in this table. On the other hand ESCO Technologies Inc. (NYSE:ESE) is the least popular one with only 5 bullish hedge fund positions. CVR Energy, Inc. (NYSE:CVI) 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 SCOR might be a better candidate to consider taking a long position in.

Disclosure: None