Is Spartan Motors Inc (SPAR) A Good Stock To Buy?

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With a general bullishness amongst the heavyweights, key money managers have been driving this bullishness. G2 Investment Partners Management, led by Josh Goldberg, created the biggest position in Spartan Motors Inc (NASDAQ:SPAR). G2 Investment Partners Management had $1.9 million invested in the company at the end of the quarter. Warren Lammert’s Granite Point Capital also made a $0.6 million investment in the stock during the quarter. The only other fund with a new position in the stock is Cliff Asness’ AQR Capital Management.

Let’s check out hedge fund activity in other stocks similar to Spartan Motors Inc (NASDAQ:SPAR). These stocks are Jive Software Inc (NASDAQ:JIVE), Dorian LPG Ltd (NYSE:LPG), UMH Properties, Inc (NYSE:UMH), and BioScrip Inc. (NASDAQ:BIOS). This group of stocks’ market valuations are similar to SPAR’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
JIVE 13 48850 -2
LPG 8 56727 -2
UMH 5 28818 1
BIOS 20 153706 -3

As you can see these stocks had an average of 12 funds with bullish positions and the average amount invested in these stocks was $72 million, versus $50 million in SPAR’s case. BioScrip Inc. (NASDAQ:BIOS) is the most popular stock in this table, while UMH Properties, Inc (NYSE:UMH) is the least popular one with only five bullish hedge fund positions. Spartan Motors Inc (NASDAQ:SPAR) 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 BioScrip Inc. (NASDAQ:BIOS) might be a better candidate to consider taking a long position in.

Disclosure: none

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