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Is Anixter International Inc. (AXE) A Good Stock To Buy?

We already know that not all hedge funds are bullish on the stock and some hedge funds actually cut their positions entirely. At the top of the heap, Barry Lebovits and Joshua Kuntz’s Rivulet Capital cut the biggest position of the “upper crust” of funds monitored by Insider Monkey, totaling close to $2.7 million in stock, and Matthew Tewksbury’s Stevens Capital Management was right behind this move, as the fund said goodbye to about $0.9 million worth of shares.

Let’s now take a look at hedge fund activity in other stocks similar to Anixter International Inc. (NYSE:AXE). We will take a look at M/A-COM Technology Solutions Holdings (NASDAQ:MTSI), Triumph Group Inc (NYSE:TGI), ExlService Holdings, Inc. (NASDAQ:EXLS), and Evercore Partners Inc. (NYSE:EVR). This group of stocks’ market valuations are closest to AXE’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
MTSI 15 56196 0
TGI 17 124755 0
EXLS 8 56257 -5
EVR 19 197858 0

As you can see these stocks had an average of 15 hedge funds with bullish positions and the average amount invested in these stocks was $109 million. That figure was $468 million in AXE’s case. Evercore Partners Inc. (NYSE:EVR) is the most popular stock in this table. On the other hand ExlService Holdings, Inc. (NASDAQ:EXLS) is the least popular one with only 8 bullish hedge fund positions. Compared to these stocks Anixter International Inc. (NYSE:AXE) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None