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Is Multi-Fineline Electronix, Inc. (MFLX) A Good Stock To Buy?

With a general bullishness amongst the heavyweights, key hedge funds have jumped into Multi-Fineline Electronix, Inc. (NASDAQ:MFLX) headfirst. Harvest Capital Strategies, managed by Joseph A. Jolson, assembled the largest position in Multi-Fineline Electronix, Inc. (NASDAQ:MFLX). Harvest Capital Strategies had $1.7 million invested in the company at the end of the quarter. Neil Chriss’s Hutchin Hill Capital also initiated a $0.5 million position during the quarter. The only other fund with a brand new MFLX position is Lee Munder’s Lee Munder Capital Group.

Let’s also examine hedge fund activity in other stocks similar to Multi-Fineline Electronix, Inc. (NASDAQ:MFLX). These stocks are Catchmark Timber Trust Inc (NYSE:CTT), Apollo Residential Mortgage Inc (NYSE:AMTG), Natural Health Trends Corp. (NASDAQ:NHTC), and Calix Inc (NYSE:CALX). This group of stocks’ market valuations match MFLX’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
CTT 11 29323 3
AMTG 11 44717 -2
NHTC 13 38173 4
CALX 20 67632 3

As you can see these stocks had an average of 13.75 hedge funds with bullish positions and the average amount invested in these stocks was $45 million. That figure was $23 million in MFLX’s case. Calix Inc (NYSE:CALX) is the most popular stock in this table. On the other hand Catchmark Timber Trust Inc (NYSE:CTT) is the least popular one with only 11 bullish hedge fund positions. Multi-Fineline Electronix, Inc. (NASDAQ:MFLX) 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 CALX might be a better candidate to consider a long position.

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