Is Xcerra Corp (XCRA) A Good Stock To Buy?

Now, some big names have been driving this bullishness. Israel Englander’s Millennium Management initiated the largest position in Xcerra Corp (NASDAQ:XCRA). Millennium Management had $1 million invested in the company at the end of the quarter. Glenn Russell Dubin’s Highbridge Capital Management also initiated a $0.2 million position during the quarter.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Xcerra Corp (NASDAQ:XCRA) but similarly valued. We will take a look at Preferred Apartment Communities Inc. (NYSEAMEX:APTS), Sangamo Biosciences, Inc. (NASDAQ:SGMO), Blue Bird Copr (NASDAQ:BLBD), and Central European Media Enterprises Ltd. (NASDAQ:CETV). This group of stocks’ market caps match XCRA’s market cap.

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $52 million. That figure was $50 million in XCRA’s case. Sangamo Biosciences, Inc. (NASDAQ:SGMO) is the most popular stock in this table. On the other hand Preferred Apartment Communities Inc. (NYSEAMEX:APTS) is the least popular one with only 7 bullish hedge fund positions. Xcerra Corp (NASDAQ:XCRA) 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 SGMO might be a better candidate to consider taking a long position in.

Disclosure: None