Is CalAmp Corp. (CAMP) A Good Stock To Buy?

Judging by the fact that CalAmp Corp. (NASDAQ:CAMP) has witnessed a falling interest from the aggregate hedge fund industry, it’s easy to see that there exists a select few funds that elected to cut their full holdings heading into Q4. At the top of the heap, Clifford Fox’s Columbus Circle Investors dropped the biggest stake of the “upper crust” of funds tracked by Insider Monkey, totaling about $12 million in call options.. Frank Slattery’s fund, Symmetry Peak Management, also cut its call options., about $1.8 million worth of shares. These bearish behaviors are interesting, as total hedge fund interest was cut by 2 funds heading into Q4.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as CalAmp Corp. (NASDAQ:CAMP) but similarly valued. These stocks are Iridium Communications Inc. (NASDAQ:IRDM), Ashford Hospitality Trust, Inc. (NYSE:AHT), General Cable Corporation (NYSE:BGC), and Viad Corp (NYSE:VVI). This group of stocks’ market caps match CalAmp Corp. (NASDAQ:CAMP)’s market cap.

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 $62 million. That figure was $33 million in CalAmp Corp. (NASDAQ:CAMP)’s case. Ashford Hospitality Trust, Inc. (NYSE:AHT) is the most popular stock in this table. On the other hand, Iridium Communications Inc. (NASDAQ:IRDM) is the least popular one with only 12 bullish hedge fund positions. CalAmp Corp. (NASDAQ:CAMP) is not the least popular stock in this group, but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard, Ashford Hospitality Trust, Inc. (NYSE:AHT) might be a better candidate to consider a long position.