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How CardConnect Corp (CCN) Stacks Up Against Its Peers

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as CardConnect Corp (NASDAQ:CCN) but similarly valued. These stocks are Mirati Therapeutics, Inc. (NASDAQ:MRTX), Core Molding Technologies, Inc. (NYSEAMEX:CMT), DHX Media Ltd (USA) (NASDAQ:DHXM), and Corindus Vascular Robotics Inc (NYSEMKT:CVRS). All of these stocks’ market caps are closest to CCN’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
MRTX 13 37415 3
CMT 6 12227 0
DHXM 5 85143 -2
CVRS 4 23793 -1

As you can see these stocks had an average of 7 hedge funds with bullish positions and the average amount invested in these stocks was $40 million. That figure was $39 million in CCN’s case. Mirati Therapeutics, Inc. (NASDAQ:MRTX) is the most popular stock in this table. On the other hand Corindus Vascular Robotics Inc (NYSEMKT:CVRS) is the least popular one with only 4 bullish hedge fund positions. CardConnect Corp (NASDAQ:CCN) 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 MRTX might be a better candidate to consider taking a long position in.

Disclosure: None

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