Is NextPoint Residential Trust Inc (NXRT) A Good Stock To Buy?

As industrywide interest jumped, some big names were breaking ground themselves. Arrowstreet Capital, led by Peter Rathjens, Bruce Clarke and John Campbell, created the largest position in NextPoint Residential Trust Inc (NYSE:NXRT). Arrowstreet Capital had $0.8 million invested in the company at the end of the quarter. Mike Vranos’ Ellington also initiated a $0.5 million position during the quarter. The only other fund with a new position in the stock is Ken Griffin’s Citadel Investment Group.

Let’s check out hedge fund activity in other stocks similar to NextPoint Residential Trust Inc (NYSE:NXRT). These stocks are ConforMIS Inc (NASDAQ:CFMS), Medley Capital Corp (NYSE:MCC), Petmed Express Inc (NASDAQ:PETS), and Kratos Defense & Security Solutions, Inc (NASDAQ:KTOS). This group of stocks’ market values are closest to NXRT’s market value.

As you can see these stocks had an average of 7 hedge funds with bullish positions and the average amount invested in these stocks was $27 million. That figure was $59 million in NXRT’s case. Petmed Express Inc (NASDAQ:PETS) is the most popular stock in this table. On the other hand ConforMIS Inc (NASDAQ:CFMS) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks NextPoint Residential Trust Inc (NYSE:NXRT) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None