Is Core Laboratories N.V. (CLB) A Good Stock to Buy?

Consequently, key hedge funds were leading the bulls’ herd. Millennium Management, managed by Israel Englander, established the most valuable position in Core Laboratories N.V. (NYSE:CLB). Millennium Management had $7.5 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also initiated a $2.5 million position during the quarter. The following funds were also among the new CLB investors: Noam Gottesman’s GLG Partners, Glenn Russell Dubin’s Highbridge Capital Management, and Andrew Feldstein and Stephen Siderow’s Blue Mountain Capital.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Core Laboratories N.V. (NYSE:CLB) but similarly valued. We will take a look at Douglas Emmett, Inc. (NYSE:DEI), Brown & Brown, Inc. (NYSE:BRO), Service Corporation International (NYSE:SCI), and Empire State Realty Trust Inc (NYSE:ESRT). This group of stocks’ market caps are closest to CLB’s market cap.

As you can see these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $232 million. That figure was $145 million in CLB’s case. Service Corporation International (NYSE:SCI) is the most popular stock in this table. On the other hand Douglas Emmett, Inc. (NYSE:DEI) is the least popular one with only 5 bullish hedge fund positions. Core Laboratories N.V. (NYSE:CLB) 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 SCI might be a better candidate to consider a long position in.

Disclosure: None