Here is What Hedge Funds Think About ADTRAN, Inc. (ADTN)

We already know that not all hedge funds are bullish on the stock and some hedge funds actually cashed in their positions entirely. Intriguingly, John Croghan and Richard Fradin’s Rail-Splitter Capital Management cashed in the largest stake of all the investors studied by Insider Monkey, worth close to $8 million in stock. Steve Cohen’s fund, Point72 Asset Management, also sold off its stock, about $3.5 million worth.

Let’s also examine hedge fund activity in other stocks similar to ADTRAN, Inc. (NASDAQ:ADTN). We will take a look at 1st Source Corporation (NASDAQ:SRCE), Express, Inc. (NYSE:EXPR), Isle of Capri Casinos (NASDAQ:ISLE), and National CineMedia, Inc. (NASDAQ:NCMI). This group of stocks’ market values match ADTN’s market value.

As you can see these stocks had an average of 17 hedge funds with bullish positions and the average amount invested in these stocks was $114 million. That figure was $64 million in ADTN’s case. Express, Inc. (NYSE:EXPR) is the most popular stock in this table. On the other hand 1st Source Corporation (NASDAQ:SRCE) is the least popular one with only 7 bullish hedge fund positions. ADTRAN, Inc. (NASDAQ:ADTN) 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 EXPR might be a better candidate to consider taking a long position in.

Disclosure: None