Is Manitowoc Foodservice Inc (MFS) A Good Stock To Buy Right Now?

Now, key hedge funds have been driving this bullishness. Renaissance Technologies, led by Jim Simons, established the most valuable position in Manitowoc Foodservice Inc(NYSE:MFS). Renaissance Technologies had $3.5 million invested in the company at the end of the quarter. Phill Gross and Robert Atchinson’s Adage Capital Management also made a $3.1 million investment in the stock during the quarter. The following funds were also among the new MFS investors: Peter Muller’s PDT Partners, Anand Parekh’s Alyeska Investment Group, and Israel Englander’s Millennium Management.

Let’s go over hedge fund activity in other stocks similar to Manitowoc Foodservice Inc(NYSE:MFS). We will take a look at Darling International Inc. (NYSE:DAR), J&J Snack Foods Corp. (NASDAQ:JJSF), Boyd Gaming Corporation (NYSE:BYD), and Healthequity Inc (NASDAQ:HQY). This group of stocks’ market valuations are closest to MFS’s market valuation.

As you can see these stocks had an average of 17.25 hedge funds with bullish positions and the average amount invested in these stocks was $267 million. That figure was $717 million in MFS’s case. Darling International Inc. (NYSE:DAR) is the most popular stock in this table. On the other hand J&J Snack Foods Corp. (NASDAQ:JJSF) is the least popular one with only 10 bullish hedge fund positions. Manitowoc Foodservice Inc(NYSE:MFS) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard DAR might be a better candidate to consider taking a long position in.