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Is Model N Inc (MODN) Worthy of Your Portfolio?

On the other hand, there are some funds that sold off their entire stakes during the third quarter. Interestingly, George McCabe’s Portolan Capital Management got rid of the biggest stake of all the hedgies studied by Insider Monkey, worth close to $7.3 million in stock. Israel Englander’s fund, Millennium Management, also dropped its stock, about $0.3 million worth.

Let’s now take a look at hedge fund activity in other stocks similar to Model N Inc (NYSE:MODN). We will take a look at Aquinox Pharmaceuticals Inc (NASDAQ:AQXP), Luxfer Holdings PLC (ADR) (NYSE:LXFR), FRP Holdings Inc (NASDAQ:FRPH), and Davids Tea Inc (NASDAQ:DTEA). All of these stocks’ market caps match MODN’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
AQXP 12 190612 4
LXFR 12 85904 2
FRPH 6 39702 1
DTEA 4 4882 4

As you can see these stocks had an average of eight funds with bullish positions and the average amount invested in these stocks was $80 million. That figure was $105 million in MODN’s case. Aquinox Pharmaceuticals Inc (NASDAQ:AQXP) and Luxfer Holdings PLC (ADR) (NYSE:LXFR) are the most popular stocks in this table. On the other hand Davids Tea Inc (NASDAQ:DTEA) is the least popular one with only four bullish hedge fund positions. Compared to these stocks Model N Inc (NYSE:MODN) 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