Analogic Corporation (ALOG): Are Hedge Funds Right About This Stock?

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, Neil Chriss’ Hutchin Hill Capital dumped the largest investment of all the investors tracked by Insider Monkey, comprising an estimated $1.2 million in stock, and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital was right behind this move, as the fund cut about $0.1 million worth of shares.

Let’s now review hedge fund activity in other stocks similar to Analogic Corporation (NASDAQ:ALOG). We will take a look at McEwen Mining Inc (NYSE:MUX), NuStar GP Holdings, LLC (NYSE:NSH), Comfort Systems USA, Inc. (NYSE:FIX), and Sturm, Ruger & Company (NYSE:RGR). This group of stocks’ market valuations are closest to ALOG’s market valuation.

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $59 million. That figure was $99 million in ALOG’s case. Comfort Systems USA, Inc. (NYSE:FIX) is the most popular stock in this table. On the other hand NuStar GP Holdings, LLC (NYSE:NSH) is the least popular one with only 4 bullish hedge fund positions. Analogic Corporation (NASDAQ:ALOG) 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 FIX might be a better candidate to consider taking a long position in.

Disclosure: None