Is Armstrong Flooring Inc (AFI) A Good Stock To Buy?

Due to the fact that Armstrong Flooring Inc (NYSE:AFI) has experienced declining sentiment from the entirety of the hedge funds we track, we can see that there exists a select few fund managers that slashed their positions entirely last quarter. It’s worth mentioning that Paul Marshall and Ian Wace’s Marshall Wace LLP said goodbye to the largest investment of the 700 funds monitored by Insider Monkey, valued at about $1.3 million in stock, and Benjamin A. Smith’s Laurion Capital Management was right behind this move, as the fund cut about $0.6 million worth of shares.

Let’s check out hedge fund activity in other stocks similar to Armstrong Flooring Inc (NYSE:AFI). We will take a look at World Point Terminals LP (NYSE:WPT), PGT, Inc. (NASDAQ:PGTI), Omega Protein Corporation (NYSE:OME), and Apigee Corp (NASDAQ:APIC). This group of stocks’ market valuations resemble AFI’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
WPT 3 18183 -1
PGTI 14 73165 1
OME 17 60319 3
APIC 10 98906 -2

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $63 million. That figure was $217 million in AFI’s case. Omega Protein Corporation (NYSE:OME) is the most popular stock in this table. On the other hand World Point Terminals LP (NYSE:WPT) is the least popular one with only 3 bullish hedge fund positions. Armstrong Flooring Inc (NYSE:AFI) 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 OME might be a better candidate to consider taking a long position in.

Disclosure: None