Do Hedge Funds Love RPX Corp (RPXC)?

We already know that not all hedge funds are bullish on the stock and some hedge funds actually dropped their positions entirely. At the top of the heap, Joshua Packwood and Schuster Tanger’s Radix Partners dropped the biggest investment of all the investors studied by Insider Monkey, totaling close to $0.4 million in stock, and Joel Greenblatt’s Gotham Asset Management was right behind this move, as the fund sold off about $0.3 million worth of shares.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as RPX Corp (NASDAQ:RPXC) but similarly valued. We will take a look at Unifi, Inc. (NYSE:UFI), AtriCure Inc. (NASDAQ:ATRC), Armstrong Flooring Inc (NYSE:AFI), and World Point Terminals LP (NYSE:WPT). This group of stocks’ market valuations are closest to RPXC’s market valuation.

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 $87 million. That figure was $105 million in RPXC’s case. AtriCure Inc. (NASDAQ:ATRC) is the most popular stock in this table. On the other hand World Point Terminals LP (NYSE:WPT) is the least popular one with only 3 bullish hedge fund positions. RPX Corp (NASDAQ:RPXC) 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 ATRC might be a better candidate to consider taking a long position in.

Disclosure: None