Is Just Energy Group Inc (JE) A Good Stock to Buy?

Judging by the fact that Just Energy Group Inc (NYSE:JE) has faced bearish sentiment from the entirety of the hedge funds we track, logic holds that there lies a certain “tier” of money managers that elected to cut their entire stakes last quarter. Interestingly, Michael Platt and William Reeves’ BlueCrest Capital Mgmt. got rid of the largest stake of all the hedgies watched by Insider Monkey, valued at about $0.1 million in stock. Gavin Saitowitz and Cisco J. del Valle’s fund, Springbok Capital, also cut its small position in the stock.

Let’s also examine hedge fund activity in other stocks similar to Just Energy Group Inc (NYSE:JE). These stocks are Viad Corp (NYSE:VVI), National Western Life Insurance Company (NASDAQ:NWLI), Tobira Therapeutics Inc (NASDAQ:TBRA), and Workiva Inc (NYSE:WK). This group of stocks’ market valuations are closest to JE’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 $143 million. That figure was $16 million in JE’s case. Tobira Therapeutics Inc (NASDAQ:TBRA) is the most popular stock in this table. On the other hand National Western Life Insurance Company (NASDAQ:NWLI) is the least popular one with only 7 bullish hedge fund positions. Just Energy Group Inc (NYSE:JE) 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 TBRA might be a better candidate to consider taking a long position in.

Disclosure: None