Is Lindsay Corporation (LNN) A Good Stock To Buy?

We already know that not all hedge funds are bullish on the stock and some hedge funds actually dropped their positions entirely. At the top of the heap, Ken Griffin’s Citadel Investment Group dropped the biggest stake of all the hedgies followed by Insider Monkey, worth close to $0.9 million in call options. Israel Englander’s fund, Millennium Management, also dumped its stock, about $0.5 million worth of Lindsay Corporation (NYSE:LNN) shares.

Let’s check out hedge fund activity in other stocks similar to Lindsay Corporation (NYSE:LNN). We will take a look at Triangle Capital Corporation (NYSE:TCAP), U.S. Physical Therapy, Inc. (NYSE:USPH), Griffon Corporation (NYSE:GFF), and MINDBODY Inc (NASDAQ:MB). This group of stocks’ market values resemble LNN’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
TCAP 6 9322 3
USPH 14 74816 3
GFF 11 124531 2
MB 20 135969 8

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $86 million. That figure was $132 million in LNN’s case. MINDBODY Inc (NASDAQ:MB) is the most popular stock in this table. On the other hand Triangle Capital Corporation (NYSE:TCAP) is the least popular one with only 6 bullish hedge fund positions. Lindsay Corporation (NYSE:LNN) 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 MB might be a better candidate to consider taking a long position in.

Disclosure: none.