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Is MasTec, Inc. (MTZ) A Good Stock To Buy?

Intriguingly, Curtis Schenker and Craig Effron’s Scoggin sold off the biggest stake of the 700 funds watched by Insider Monkey, totaling close to $21.5 million in stock. Brian Jackelow’s fund, SAB Capital Management, also dropped its stock, about $13.4 million worth. These moves are important to note, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as MasTec, Inc. (NYSE:MTZ) but similarly valued. We will take a look at Viavi Solutions Inc (NASDAQ:VIAV), Exelixis, Inc. (NASDAQ:EXEL), Archrock Inc (NYSE:AROC), and KB Home (NYSE:KBH). This group of stocks’ market values are closest to MTZ’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
VIAV 19 229201 -4
EXEL 12 40209 2
EXH 26 405310 -5
KBH 19 329236 -6

As you can see these stocks had an average of 19 hedge funds with bullish positions and the average amount invested in these stocks was $251 million. That figure was $228 million in MTZ’s case. Archrock Inc (NYSE:AROC) is the most popular stock in this table. On the other hand Exelixis, Inc. (NASDAQ:EXEL) is the least popular one with only 12 bullish hedge fund positions. MasTec, Inc. (NYSE:MTZ) 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 EXH might be a better candidate to consider a long position.

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