Is MYR Group Inc (MYRG) A Good Investment?

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Now, key money managers were leading the bulls’ herd. Stevens Capital Management, led by Matthew Tewksbury, initiated the most valuable position in MYR Group Inc (NASDAQ:MYRG). Stevens Capital Management had $0.5 million invested in the company at the end of the quarter. Mike Vranos’ Ellington also made a $0.4 million investment in the stock during the quarter. The following funds were also among the new MYRG investors: John Fichthorn’s Dialectic Capital Management and Joshua Packwood and Schuster Tanger’s Radix Partners.

Let’s now review hedge fund activity in other stocks similar to MYR Group Inc (NASDAQ:MYRG). We will take a look at El Pollo LoCo Holdings Inc (NASDAQ:LOCO), WMIH Corp (OTCMKTS:WMIH), Lion Biotechnologies Inc (NASDAQ:LBIO), and ReTailMeNot Inc (NASDAQ:SALE). This group of stocks’ market caps match MYRG’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
LOCO 8 13791 -3
WMIH 30 118517 1
LBIO 19 162742 2
SALE 17 55905 0

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 $88 million. That figure was $48 million in MYRG’s case. WMIH Corp (OTCMKTS:WMIH) is the most popular stock in this table. On the other hand El Pollo LoCo Holdings Inc (NASDAQ:LOCO) is the least popular one with only 8 bullish hedge fund positions. MYR Group Inc (NASDAQ:MYRG) 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 WMIH might be a better candidate to consider taking a long position in.

Disclosure: None

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