Is Brio Restaurant Group, Inc. (BBRG) a Good Stock to Buy?

Due to the fact that Bravo Brio Restaurant Group, Inc. (NASDAQ:BBRG) has weathered bearish sentiment from the smart money, we can see that there is a sect of funds who were dropping their full holdings in the third quarter. Intriguingly, George McCabe’s Portolan Capital Management dropped the biggest stake of the 700 funds tracked by Insider Monkey, worth about $3 million in stock. Jim Simons’ fund, Renaissance Technologies, also sold off its stock, about $0.9 million worth.

Let’s now review hedge fund activity in other stocks similar to Bravo Brio Restaurant Group, Inc. (NASDAQ:BBRG). We will take a look at Key Technology, Inc. (NASDAQ:KTEC), UCP Inc (NYSE:UCP), Sophiris Bio Inc (NASDAQ:SPHS), and Digital Turbine Inc (NASDAQ:APPS). All of these stocks’ market caps are similar to BBRG’s market cap.

As you can see these stocks had an average of 5 hedge funds with bullish positions and the average amount invested in these stocks was $9 million. That figure was $3 million in BBRG’s case. Key Technology, Inc. (NASDAQ:KTEC) is the most popular stock in this table. On the other hand Digital Turbine Inc (NASDAQ:APPS) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Bravo Brio Restaurant Group, Inc. (NASDAQ:BBRG) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None