Is Northern Technologies International Corp (NTIC) A Good Stock To Buy?

The 700+ hedge funds and money managers tracked by Insider Monkey have already compiled and submitted their 13F filings for the third quarter, which unveil their equity positions as of September 30. We went through these filings, fixed typos and other more significant errors and identified the changes in hedge fund positions. Our extensive review of these public filings is finally over, so this article is set to reveal the smart money sentiment towards Northern Technologies International Corp (NASDAQ:NTIC).

Hedge fund interest in Northern Technologies International Corp (NASDAQ:NTIC) shares was flat at the end of last quarter. This is usually a negative indicator. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as Inuvo, Inc. (NYSEMKT:INUV), TransAct Technologies Incorporated (NASDAQ:TACT), and Arch Coal Inc (NYSE:ACI) to gather more data points.

In the 21st century investor’s toolkit there are dozens of gauges market participants have at their disposal to value publicly traded companies. Two of the most useful gauges are hedge fund and insider trading moves. We have shown that, historically, those who follow the top picks of the best investment managers can outperform their index-focused peers by a significant margin (see the details here).

Now, we’re going to check out the new action encompassing Northern Technologies International Corp (NASDAQ:NTIC).

How are hedge funds trading Northern Technologies International Corp (NASDAQ:NTIC)?

When looking at the institutional investors followed by Insider Monkey, Peter Schliemann’s Rutabaga Capital Management has the biggest position in Northern Technologies International Corp (NASDAQ:NTIC), worth close to $6.3 million, amounting to 0.8% of its total 13F portfolio. Coming in second is Jeffrey Bronchick of Cove Street Capital, with a $0.7 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Other peers that are bullish consist of Jim Simons’s Renaissance Technologies, and Charles Paquelet’s Skylands Capital.