Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Cenveo, Inc. (NYSE:CVO) but similarly valued. We will take a look at CPI Aerostructures, Inc. (NYSEMKT:CVU), LRAD Corp (NASDAQ:LRAD), Ocera Therapeutics Inc (NASDAQ:OCRX), and Trilogy Metals Inc (NYSEMKT:TMQ). All of these stocks’ market caps resemble CVO’s market cap.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see these stocks had an average of 6 hedge funds with bullish positions and the average amount invested in these stocks was $14 million. That figure was $4 million in CVO’s case. Ocera Therapeutics Inc (NASDAQ:OCRX) is the most popular stock in this table. On the other hand CPI Aerostructures, Inc. (NYSEMKT:CVU) is the least popular one with only 3 bullish hedge fund positions. Cenveo, Inc. (NYSE:CVO) 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 OCRX might be a better candidate to consider taking a long position in.