Is InvenSense Inc (INVN) a Good Stock to Buy?

As aggregate interest increased, specific money managers have been driving this bullishness. Symmetry Peak Management, led by Frank Slattery, initiated the most outsized call position in InvenSense Inc (NYSE:INVN). Symmetry Peak Management had $1.5 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also initiated a $0.5 million position during the quarter. The other funds with brand new INVN positions are Matthew Hulsizer’s PEAK6 Capital Management, Glenn Russell Dubin’s Highbridge Capital Management, and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as InvenSense Inc (NYSE:INVN) but similarly valued. We will take a look at Global Eagle Acquisition Corp (NASDAQ:ENT), Costamare Inc (NYSE:CMRE), The Marcus Corporation (NYSE:MCS), and National Bank Holdings Corp (NYSE:NBHC). This group of stocks’ market valuations are closest to INVN’s market valuation.

As you can see these stocks had an average of 10 funds with bullish positions and the average amount invested in these stocks was $109 million. That figure was just $23 million in INVN’s case. Global Eagle Acquisition Corp (NASDAQ:ENT) is the most popular stock in this table. On the other hand The Marcus Corporation (NYSE:MCS) is the least popular one with only nine bullish hedge fund positions. Compared to these stocks InvenSense Inc (NYSE:INVN) 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.

Disclosure: none