Is Tucows Inc. (USA) (TCX) A Good Stock to Buy?

We already know that not all hedge funds are bullish on the stock and some hedge funds actually sold off their positions entirely. Intriguingly, Israel Englander’s Millennium Management sold off the largest investment of all the hedgies studied by Insider Monkey, comprising an estimated $0.3 million in stock, and Glenn Russell Dubin’s Highbridge Capital Management was right behind this move, as the fund said goodbye to about $0.3 million worth of shares.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Tucows Inc. (USA) (NASDAQ:TCX) but similarly valued. We will take a look at Western Ast Clymr Infl Lkd Sc & Incm Fd (NYSE:WIA), Hometrust Bancshares Inc (NASDAQ:HTBI), Baozun Inc (ADR) (NASDAQ:BZUN), and Energous Corp (NASDAQ:WATT). This group of stocks’ market values match TCX’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 $22 million. That figure was $47 million in TCX’s case. Hometrust Bancshares Inc (NASDAQ:HTBI) is the most popular stock in this table. On the other hand Western Ast Clymr Infl Lkd Sc & Incm Fd (NYSE:WIA) is the least popular one with only 4 bullish hedge fund positions. Tucows Inc. (USA) (NASDAQ:TCX) is not the least popular stock in this group but hedge fund interest is still below 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 HTBI might be a better candidate to consider taking a long position in.

Disclosure: None