Here is What Hedge Funds Think About Intersect ENT Inc (XENT)

Consequently, some big names were leading the bulls’ herd. Point72 Asset Management, led by Steve Cohen, established the biggest position in Intersect ENT Inc (NASDAQ:XENT). According to its latest 13F filing, the fund had $7.1 million invested in the company at the end of the quarter. Jim Simons’s Renaissance Technologies also made a $0.8 million investment in the stock during the quarter. The only other fund with a brand new XENT position is David E. Shaw’s D E Shaw.

Let’s check out hedge fund activity in other stocks similar to Intersect ENT Inc (NASDAQ:XENT). These stocks are Vicor Corp (NASDAQ:VICR), Village Super Market, Inc. (NASDAQ:VLGEA), Sportsman’s Warehouse Holdings Inc (NASDAQ:SPWH), and NMI Holdings Inc (NASDAQ:NMIH). This group of stocks’ market caps resemble XENT’s market cap.

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 $64 million. That figure was $68 million in XENT’s case. NMI Holdings Inc (NASDAQ:NMIH) is the most popular stock in this table. On the other hand Village Super Market, Inc. (NASDAQ:VLGEA) is the least popular one with only 5 bullish hedge fund positions. Intersect ENT Inc (NASDAQ:XENT) 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 NMIH might be a better candidate to consider taking a long position in.

Disclosure: none.