Is Hometrust Bancshares Inc (HTBI) a Good Stock to Buy?

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Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that said goodbye to their entire stakes in the stock during the third quarter. It’s worth mentioning that Israel Englander’s Millennium Management said goodbye to the biggest position of the “upper crust” of funds studied by Insider Monkey, valued at about $0.5 million in stock, and Cliff Asness’s AQR Capital Management was right behind this move, as the fund dropped about $0.4 million worth of shares.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Hometrust Bancshares Inc (NASDAQ:HTBI) but similarly valued. We will take a look at Baozun Inc (ADR) (NASDAQ:BZUN), Energous Corp (NASDAQ:WATT), KMG Chemicals, Inc. (NYSE:KMG), and ChannelAdvisor Corp (NYSE:ECOM). This group of stocks’ market caps resemble HTBI’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
BZUN 9 22381 3
WATT 5 36916 3
KMG 10 66067 1
ECOM 10 14011 1

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 $35 million. That figure was $25 million in HTBI’s case. KMG Chemicals, Inc. (NYSE:KMG) is the most popular stock in this table. On the other hand Energous Corp (NASDAQ:WATT) is the least popular one with only 5 bullish hedge fund positions. Hometrust Bancshares Inc (NASDAQ:HTBI) 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 KMG might be a better candidate to consider taking a long position in.

Disclosure: None


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