Is FARO Technologies, Inc. (FARO) A Good Stock To Buy?

Insider Monkey finished processing more than 700 13F filings made by hedge funds and prominent investors. These filings show these funds’ portfolio positions as of September 30. What do these smart investors think about FARO Technologies, Inc. (NASDAQ:FARO)?

FARO Technologies, Inc. (NASDAQ:FARO) shares haven’t seen a lot of action during the third quarter. Overall, hedge fund sentiment was unchanged. The stock was in 7 hedge funds’ portfolios at the end of September. At the end of this article we will also compare FARO to other stocks including Altra Holdings, Inc. (NASDAQ:AIMC), CTS Corporation (NYSE:CTS), and Bojangles Inc (NASDAQ:BOJA) to get a better sense of its popularity.

According to most traders, hedge funds are seen as slow, outdated investment vehicles of the past. While there are more than 8000 funds with their doors open at present, Our researchers hone in on the moguls of this group, about 700 funds. These money managers handle the majority of the smart money’s total capital, and by monitoring their best equity investments, Insider Monkey has come up with a number of investment strategies that have historically outpaced the broader indices. Insider Monkey’s small-cap hedge fund strategy surpassed the S&P 500 index by 12 percentage points per annum for a decade in their back tests.

Now, let’s check out the new action surrounding FARO Technologies, Inc. (NASDAQ:FARO).

Hedge fund activity in FARO Technologies, Inc. (NASDAQ:FARO)

According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Chuck Royce’s Royce & Associates has the largest position in FARO Technologies, Inc. (NASDAQ:FARO), worth close to $20.4 million, accounting for 0.1% of its total 13F portfolio. Sitting at the No. 2 spot is Ken Fisher of Fisher Asset Management, with a $1.7 million position; the fund has less than 0.1% of its 13F portfolio invested in the stock. Other members of the smart money with similar optimism contain Charles Paquelet’s Skylands Capital, Chao Ku’s Nine Chapters Capital Management and Peter Muller’s PDT Partners.