Is Farmers National Banc Corp (FMNB) A Good Stock To Buy?

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As industrywide interest jumped, key money managers have jumped into Farmers National Banc Corp (NASDAQ:FMNB) headfirst. Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital established the most outsized position in Farmers National Banc Corp (NASDAQ:FMNB). Springbok Capital had $30,000 invested in the company at the end of the quarter.

Let’s check out hedge fund activity in other stocks similar to Farmers National Banc Corp (NASDAQ:FMNB). We will take a look at The Chefs Warehouse, Inc (NASDAQ:CHEF), Panhandle Oil and Gas Inc. (NYSE:PHX), Magnachip Semiconductor Corp (NYSE:MX), and Royce Micro Capital Trust Inc (NYSE:RMT). This group of stocks’ market values resemble FMNB’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
CHEF 5 12585 0
PHX 4 35866 0
MX 24 160551 8
RMT 5 20670 2

As you can see these stocks had an average of 9 hedge funds with bullish positions and the average amount invested in these stocks was $57 million. That figure was $9 million in FMNB’s case. Magnachip Semiconductor Corp (NYSE:MX) is the most popular stock in this table. On the other hand Panhandle Oil and Gas Inc. (NYSE:PHX) is the least popular one with only 4 bullish hedge fund positions. Farmers National Banc Corp (NASDAQ:FMNB) 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 MX might be a better candidate to consider taking a long position in.

Disclosure: None


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