Is NV5 Global Inc (NVEE) A Good Stock To Buy?

We already know that not all hedge funds are bullish on the stock and some hedge funds actually sold off their positions entirely. At the top of the heap, Anand Parekh’s Alyeska Investment Group sold off the biggest investment of all the investors followed by Insider Monkey, valued at close to $2.6 million in stock, and Millennium Management, one of the 10 largest hedge funds in the world was right behind this move, as the fund cut about $1.2 million worth of shares.

Let’s go over hedge fund activity in other stocks similar to NV5 Global Inc (NASDAQ:NVEE). We will take a look at Sinovac Biotech Ltd. (NASDAQ:SVA), CommunityOne Bancorp (NASDAQ:COB), Bill Barrett Corporation (NYSE:BBG), and Cloud Peak Energy Inc. (NYSE:CLD). This group of stocks’ market values are closest to NVEE’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
SVA 6 25685 2
COB 4 6520 0
BBG 19 87696 0
CLD 13 43065 5

As you can see these stocks had an average of 10.5 hedge funds with bullish positions and the average amount invested in these stocks was $41 million. That figure was $25 million in NVEE’s case. Bill Barrett Corporation (NYSE:BBG) is the most popular stock in this table. On the other hand CommunityOne Bancorp (NASDAQ:COB) is the least popular one with only 4 bullish hedge fund positions. NV5 Global Inc (NASDAQ:NVEE) 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 BBG might be a better candidate to consider taking a long position in.