Is Envivio Inc (ENVI) A Good Stock To Buy?

As aggregate interest increased, specific money managers have been driving this bullishness. Glazer Capital made a $1.8 million investment in the stock during the quarter. The other funds with brand new Envivio Inc (NASDAQ:ENVI) positions are Mario Gabelli’s mutual fund, GAMCO Investors, and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.

Let’s check out hedge fund activity in other stocks similar to Envivio Inc (NASDAQ:ENVI). These stocks are Ampco-Pittsburgh Corp. (NYSE:AP), Rex Energy Corporation (NASDAQ:REXX), Entegra Financial Corp (NASDAQ:ENFC), and Lee Enterprises, Incorporated (NYSE:LEE). This group of stocks’ market values is similar to Envivio Inc (NASDAQ:ENVI)’s market value.

As you can see, these stocks had an average of 7 hedge funds with bullish positions and the average amount invested in these stocks was $15 million. That figure was $21 million in Envivio Inc (NASDAQ:ENVI)’s case. Lee Enterprises, Incorporated (NYSE:LEE) is the most popular stock in this table. On the other hand, Entegra Financial Corp (NASDAQ:ENFC) is the least popular one with only 4 bullish hedge fund positions. Envivio Inc (NASDAQ:ENVI) 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, Lee Enterprises, Incorporated (NYSE:LEE) might be a better candidate to consider a long position.