Is H&E Equipment Services, Inc. (HEES) A Good Stock To Buy?

As industry-wide interest jumped, some big names were breaking ground themselves. Adage Capital Management initiated the most outsized position in H&E Equipment Services, Inc. (NASDAQ:HEES). Michael Platt and William Reeves’ BlueCrest Capital Mgmt. also made a $1.1 million investment in the stock during the quarter. The following funds were also among the new HEES investors: David E. Shaw’s D E Shaw and Glenn Russell Dubin’s Highbridge Capital Management.

Let’s now review hedge fund activity in other stocks similar to H&E Equipment Services, Inc. (NASDAQ:HEES). We will take a look at Inovio Pharmaceuticals Inc (NYSEAMEX:INO), EarthLink, Inc. (NASDAQ:ELNK), Nimble Storage Inc (NYSE:NMBL), and New York Mortgage Trust, Inc. (NASDAQ:NYMT). All of these stocks’ market caps are closest to HEES’s market cap.

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $71 million. That figure was $31 million in HEES’s case. EarthLink, Inc. (NASDAQ:ELNK) is the most popular stock in this table. On the other hand New York Mortgage Trust, Inc. (NASDAQ:NYMT) is the least popular one with only 3 bullish hedge fund positions. H&E Equipment Services, Inc. (NASDAQ:HEES) 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 lately. In this regard NMBL might be a better candidate to consider taking a long position in, though HEES is worth watching as more and more hedge funds buy in.

Disclosure: None