Is Navigant Consulting, Inc. (NCI) Worthy of Your Portfolio?

Due to the fact that Navigant Consulting, Inc. (NYSE:NCI) has weathered declining sentiment from the entirety of the hedge funds we track, logic holds that there is a sect of funds who were dropping their positions entirely in the third quarter. It’s worth mentioning that Ken Grossman and Glen Schneider’s SG Capital Management sold off the largest investment of the 700 funds tracked by Insider Monkey, valued at about $7.9 million in stock, and Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital was right behind this move, as the fund cut about $3.9 million worth of shares.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Navigant Consulting, Inc. (NYSE:NCI) but similarly valued. We will take a look at Cray Inc. (NASDAQ:CRAY), Bottomline Technologies (NASDAQ:EPAY), Hertz Global Holdings Inc (NYSE:HRI), and Advanced Accelerator Application SA(ADR) (NASDAQ:AAAP). This group of stocks’ market caps are closest to NCI’s market cap.

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 $172 million. That figure was $43 million in NCI’s case. Hertz Global Holdings Inc (NYSE:HRI) is the most popular stock in this table. On the other hand Advanced Accelerator Application SA(ADR) (NASDAQ:AAAP) is the least popular one with only seven bullish hedge fund positions. Navigant Consulting, Inc. (NYSE:NCI) 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 HRI might be a better candidate to consider taking a long position in.

Disclosure: None