Is Inventure Foods Inc (SNAK) A Good Stock To Buy?

Consequently, specific money managers have jumped into Inventure Foods Inc (NASDAQ:SNAK) headfirst. PEAK6 Capital Management, led by Matthew Hulsizer, created the most outsized call position in Inventure Foods Inc (NASDAQ:SNAK). PEAK6 Capital Management had $1.2 million invested in the company at the end of the quarter. John Overdeck and David Siegel’s Two Sigma Advisors also initiated a $0.2 million position during the quarter.

Let’s now review hedge fund activity in other stocks similar to Inventure Foods Inc (NASDAQ:SNAK). We will take a look at Hurco Companies, Inc. (NASDAQ:HURC), Advent Claymore Convertible Securities and Income Fund of Beneficial Interest (NYSE:AGC), Pendrell Corporation – Class A (NASDAQ:PCO), and FreightCar America, Inc. (NASDAQ:RAIL). This group of stocks’ market valuations resemble SNAK’s market valuation.

As you can see these stocks had an average of seven funds with bullish positions and the average amount invested in these stocks was $31 million. That figure was $19 million in SNAK’s case. FreightCar America, Inc. (NASDAQ:RAIL) is the most popular stock in this table. On the other hand Advent Claymore Convertible Securities and Income Fund of Beneficial Interest (NYSE:AGC) is the least popular one with only four bullish hedge fund positions. Inventure Foods Inc (NASDAQ:SNAK) is not the least popular stock in this group, but hedge fund interest is close to 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 RAIL might be a better candidate to consider taking a long position in.

Disclosure: none