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Should You Buy Archrock Inc (AROC)?

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Is Archrock Inc (NYSE:AROC) a good investment right now? We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, expert networks, and get tips from industry insiders. They fail miserably sometimes, but historically their consensus stock picks outperformed the market after adjusting for known risk factors.

Is Archrock Inc (NYSE:AROC) ready to rally soon? The best stock pickers are taking an optimistic view. The number of long hedge fund positions inched up by 1 lately. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity, but it may still be less popular than similarly priced stocks. That’s why at the end of this article, we will examine companies such as Otter Tail Corporation (NASDAQ:OTTR), Ultra Petroleum Corp. (NYSE:UPL), and ScanSource, Inc. (NASDAQ:SCSC) to gather more data points.

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At the moment, there are a lot of signals shareholders employ to appraise publicly traded companies. A pair of the most underrated signals are hedge fund and insider trading activity. Our researchers have shown that, historically, those who follow the best picks of the elite investment managers can trounce the broader indices by a solid margin (see the details here).

Now, let’s go over the latest action regarding Archrock Inc (NYSE:AROC).

What have hedge funds been doing with Archrock Inc (NYSE:AROC)?

Heading into Q4, a total of 6 of the hedge funds tracked by Insider Monkey were bullish on this stock, an increase of 20% from one quarter earlier. With hedge funds’ sentiment swirling, there exists a few key hedge fund managers who were increasing their stakes considerably (or already accumulated large positions).

According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Alec Litowitz and Ross Laser’s Magnetar Capital has the most valuable position in Archrock Inc (NYSE:AROC), worth close to $16.8 million, corresponding to 0.4% of its total 13F portfolio. The second most bullish fund manager is Michael Platt and William Reeves of BlueCrest Capital Mgmt., with a $5 million position; the fund has 0.2% of its 13F portfolio invested in the stock. Other peers with similar optimism comprise Chuck Royce’s Royce & Associates, Renaissance Technologies, and Ken Griffin’s Citadel Investment Group.

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