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Is Blucora Inc (BCOR) A Good Stock To Buy?

Because Blucora Inc (NASDAQ:BCOR) has gone through a decline in interest from the smart money, it’s easy to see that there is a sect of money managers who sold off their full holdings last quarter. Interestingly, Steven Boyd’s Armistice Capital cut the biggest investment of the “upper crust” of funds tracked by Insider Monkey, valued at close to $5.2 million in stock, and Howard Marks’s Oaktree Capital Management was right behind this move, as the fund dropped about $3.4 million worth of shares.

Let’s now take a look at hedge fund activity in other stocks similar to Blucora Inc (NASDAQ:BCOR). These stocks are Career Education Corp. (NASDAQ:CECO), Lands’ End, Inc. (NASDAQ:LE), Kinsale Capital Group Inc (NASDAQ:KNSL), and Net 1 UEPS Technologies Inc (NASDAQ:UEPS). This group of stocks’ market values resemble BCOR’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
CECO 16 62286 7
LE 9 152042 -1
KNSL 6 10395 6
UEPS 19 196031 1

As you can see these stocks had an average of 12.5 hedge funds with bullish positions and the average amount invested in these stocks was $105 million. That figure was $73 million in BCOR’s case. Net 1 UEPS Technologies Inc (NASDAQ:UEPS) is the most popular stock in this table. On the other hand Kinsale Capital Group Inc (NASDAQ:KNSL) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks Blucora Inc (NASDAQ:BCOR) 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.