Is Franks International NV (FI) a Good Stock To Buy?

Consequently, specific money managers have jumped into Franks International NV (NYSE:FI) headfirst. Millennium Management, one of the 10 largest hedge funds in the world, initiated the most valuable position in Franks International NV (NYSE:FI). Millennium Management had $4.6 million invested in the company at the end of the quarter. Michael Platt and William Reeves’ BlueCrest Capital Mgmt. also initiated a $2 million position during the quarter. The only other fund with a new position in the stock is Roger Ibbotson’s Zebra Capital Management.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Franks International NV (NYSE:FI) but similarly valued. We will take a look at Mueller Water Products, Inc. (NYSE:MWA), Artisan Partners Asset Management Inc (NYSE:APAM), Suburban Propane Partners LP (NYSE:SPH), and United Natural Foods, Inc. (NASDAQ:UNFI). This group of stocks’ market caps match FI’s market cap.

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 $111 million, versus $36 million in FI’s case. United Natural Foods, Inc. (NASDAQ:UNFI) is the most popular stock in this table. On the other hand Suburban Propane Partners LP (NYSE:SPH) is the least popular one with only four funds having reported long positions. Franks International NV (NYSE:FI) 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 United Natural Foods might be a better candidate to consider taking a long position in.

Disclosure: none