Is Newpark Resources Inc (NR) a Good Stock To Buy?

Due to the fact that Newpark Resources Inc (NYSE:NR) has sustained falling interest from hedge fund managers, logic holds that there were a few funds that slashed their full holdings in the third quarter. At the top of the heap, Glenn Russell Dubin’s Highbridge Capital Management got rid of the biggest position of all the hedgies studied by Insider Monkey, worth about $0.2 million in stock, and Paul Marshall and Ian Wace’s Marshall Wace LLP was right behind this move, as the fund said goodbye to about $0.1 million worth of shares.

Let’s check out hedge fund activity in other stocks similar to Newpark Resources Inc (NYSE:NR). These stocks are HomeStreet Inc (NASDAQ:HMST), Sapiens International Corporation N.V. (NASDAQ:SPNS), Silver Bay Realty Trust Corp (NYSE:SBY), and Univest Corp. of PA (NASDAQ:UVSP). This group of stocks’ market caps are similar to NR’s market cap.

As you can see these stocks had an average of eight hedge funds with bullish positions and the average amount invested in these stocks was $39 million. That figure was $44 million in NR’s case. Silver Bay Realty Trust Corp (NYSE:SBY) is the most popular stock in this table. On the other hand Univest Corp. of PA (NASDAQ:UVSP) is the least popular one with only three bullish hedge fund positions. Newpark Resources Inc (NYSE:NR) 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 Silver Bay Realty Trust Corp (NYSE:SBY) might be a better candidate to consider taking a long position in.

Disclosure: none