Is Core-Mark Holding Company, Inc. (CORE) A Good Stock To Buy?

Due to the fact that Core-Mark Holding Company, Inc. (NASDAQ:CORE) has experienced a decline in interest from the aggregate hedge fund industry, we can see that there exists a select few funds that slashed their positions entirely by the end of the third quarter. At the top of the heap, Israel Englander’s Millennium Management dumped the largest investment of all the hedgies monitored by Insider Monkey, totaling an estimated $7.7 million in stock. Richard Driehaus’s fund, Driehaus Capital, also dumped its stock, about $1.2 million worth of shares.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Core-Mark Holding Company, Inc. (NASDAQ:CORE) but similarly valued. These stocks are Wageworks Inc (NYSE:WAGE), First Financial Bankshares Inc (NASDAQ:FFIN), TCF Financial Corporation (NYSE:TCB), and Ormat Technologies, Inc. (NYSE:ORA). This group of stocks’ market valuations are closest to CORE’s market valuation.

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 $74 million. That figure was $58 million in CORE’s case. TCF Financial Corporation (NYSE:TCB) is the most popular stock in this table. On the other hand First Financial Bankshares Inc (NASDAQ:FFIN) is the least popular one with only 4 bullish hedge fund positions. Core-Mark Holding Company, Inc. (NASDAQ:CORE) 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 TCB might be a better candidate to consider taking a long position in.

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