Is Nautilus, Inc. (NLS) Worthy of Your Portfolio?

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that dropped their entire stakes in the stock during the third quarter. It’s worth mentioning that Ken Grossman and Glen Schneider’s SG Capital Management dropped the biggest position of the 700 funds monitored by Insider Monkey, comprising close to $5.4 million in stock, and Paul Marshall and Ian Wace’s Marshall Wace LLP was right behind this move, as the fund dropped about $4.6 million worth of shares.

Let’s also examine hedge fund activity in other stocks similar to Nautilus, Inc. (NYSE:NLS). These stocks are Pinnacle Entertainment, Inc (NYSE:PNK), Solaredge Technologies Inc (NASDAQ:SEDG), The Providence Service Corporation (NASDAQ:PRSC), and A10 Networks Inc (NYSE:ATEN). This group of stocks’ market valuations resemble NLS’s market valuation.

As you can see these stocks had an average of 15 hedge funds with bullish positions and the average amount invested in these stocks was $148 million. That figure was $51 million in NLS’s case. Pinnacle Entertainment, Inc (NYSE:PNK) is the most popular stock in this table. On the other hand The Providence Service Corporation (NASDAQ:PRSC) is the least popular one with only 10 bullish hedge fund positions. Nautilus, Inc. (NYSE:NLS) 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 Pinnacle Entertainment might be a better candidate to consider taking a long position in.

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Disclosure: none