Is Service Corporation International (SCI) A Good Stock To Buy?

Consequently, specific money managers were leading the bulls’ herd. Scoggin, managed by Curtis Schenker and Craig Effron, assembled the most valuable position in Service Corporation International (NYSE:SCI). Scoggin had $6.6 million invested in the company at the end of the quarter. Israel Englander’s Millennium Management also initiated an $5.8 million position during the quarter. The other funds with new positions in the stock are Matthew Tewksbury’s Stevens Capital Management, George Hall’s Clinton Group, and John Bader’s Halcyon Asset Management.

Let’s check out hedge fund activity in other stocks similar to Service Corporation International (NYSE:SCI). We will take a look at Westar Energy Inc (NYSE:WR), Carlyle Group LP (NASDAQ:CG), IAC/InterActiveCorp (NASDAQ:IACI), and EnCana Corporation (USA) (NYSE:ECA). This group of stocks’ market caps resemble SCI’s market cap.

As you can see these stocks had an average of 24 hedge funds with bullish positions and the average amount invested in these stocks was $544 million. That figure was $607 million in SCI’s case. IAC/InterActiveCorp (NASDAQ:IACI) is the most popular stock in this table. On the other hand Westar Energy Inc (NYSE:WR) is the least popular one with only 10 bullish hedge fund positions. Service Corporation International (NYSE:SCI) 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 IACI might be a better candidate to consider a long position.