Is UFP Technologies, Inc. (UFPT) A Good Stock To Buy?

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Now, key money managers have jumped into UFP Technologies, Inc. (NASDAQ:UFPT) headfirst. Millennium Management, managed by Israel Englander, created the largest position in UFP Technologies, Inc. (NASDAQ:UFPT). Millennium Management had $0.2 million invested in the company at the end of the quarter.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as UFP Technologies, Inc. (NASDAQ:UFPT) but similarly valued. These stocks are Immunomedics, Inc. (NASDAQ:IMMU), Oil-Dri Corporation of America (NYSE:ODC), KVH Industries, Inc. (NASDAQ:KVHI), and Cloud Peak Energy Inc. (NYSE:CLD). All of these stocks’ market caps are closest to UFP Technologies, Inc. (NASDAQ:UFPT)’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
IMMU 5 10681 -4
ODC 4 29092 0
KVHI 9 28024 -1
CLD 15 15305 0

As you can see, these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $21 million. That figure was $35 million in UFP Technologies, Inc. (NASDAQ:UFPT)’s case. Cloud Peak Energy Inc. (NYSE:CLD) is the most popular stock in this table. On the other hand, Oil-Dri Corporation of America (NYSE:ODC) is the least popular one with only 4 bullish hedge fund positions. UFP Technologies, Inc. (NASDAQ:UFPT) 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, Cloud Peak Energy Inc. (NYSE:CLD) might be a better candidate to consider a long position.

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