Should You Buy Standex Int’l Corp. (SXI)?

We already know that not all hedge funds are bullish on the stock and some hedge funds actually dumped their positions entirely. At the top of the heap, Israel Englander’s Millennium Management dumped the largest investment of all the hedgies watched by Insider Monkey, totaling close to $1.1 million in stock, and George Hall’s Clinton Group was right behind this move, as the fund dropped about $0.2 million worth of shares.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Standex Int’l Corp. (NYSE:SXI) but similarly valued. We will take a look at Benefitfocus Inc (NASDAQ:BNFT), Medpace Holdings Inc (NASDAQ:MEDP), Nextera Energy Partners LP (NYSE:NEP), and Schweitzer-Mauduit International, Inc. (NYSE:SWM). This group of stocks’ market valuations are similar to SXI’s market valuation.

As you can see these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $64 million. That figure was $28 million in SXI’s case. Nextera Energy Partners LP (NYSE:NEP) is the most popular stock in this table. On the other hand Benefitfocus Inc (NASDAQ:BNFT) is the least popular one with only 9 bullish hedge fund positions. Standex Int’l Corp. (NYSE:SXI) 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 NEP might be a better candidate to consider taking a long position in.

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Disclosure: None