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Is Finisar Corporation (FNSR) A Good Stock To Buy?

Judging by the fact that Finisar Corporation (NASDAQ:FNSR) has experienced bearish sentiment from the entirety of the hedge funds we track, logic holds that there were a few hedgies that slashed their positions entirely in the third quarter. Interestingly, Howard Marks’ Oaktree Capital Management cut the biggest stake of the 700 funds monitored by Insider Monkey, comprising close to $32.5 million in stock. Phill Gross and Robert Atchinson’s fund, Adage Capital Management, also dumped its stock, about $9.2 million worth of FNSR shares. These moves are intriguing to say the least, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).

Let’s now review hedge fund activity in other stocks similar to Finisar Corporation (NASDAQ:FNSR). We will take a look at TriNet Group Inc (NYSE:TNET), Ramco-Gershenson Properties Trust (NYSE:RPT), TASER International, Inc. (NASDAQ:TASR), and Gramercy Property Trust Inc (NYSE:GPT). This group of stocks’ market values are closest to FNSR’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
TNET 17 164159 -8
RPT 16 63430 1
TASR 15 91605 -3
GPT 14 195353 -6

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 $129 million. That figure was $151 million in FNSR’s case. TriNet Group Inc (NYSE:TNET) is leading the pack, while Gramercy Property Trust Inc (NYSE:GPT) is the laggard with only 14 bullish hedge fund positions. Compared to these stocks Finisar Corporation (NASDAQ:FNSR) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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