Is OGE Energy Corp. (OGE) A Good Stock To Buy?

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that cut their entire stakes in the stock during the third quarter. Interestingly, Paul Marshall and Ian Wace’s Marshall Wace LLP cut the largest position of all the hedgies watched by Insider Monkey, comprising an estimated $3 million in stock. Matthew Tewksbury’s fund, Stevens Capital Management, also dropped its stock, about $1.7 million worth.

Let’s now review hedge fund activity in other stocks similar to OGE Energy Corp. (NYSE:OGE). These stocks are TransUnion (NYSE:TRU), STERIS Corp (NYSE:STE), Black Knight Financial Services Inc (NYSE:BKFS), and Flowserve Corporation (NYSE:FLS). This group of stocks’ market values are similar to OGE’s market value.

As you can see these stocks had an average of 21 hedge funds with bullish positions and the average amount invested in these stocks was $395 million. That figure was $199 million in OGE’s case. TransUnion (NYSE:TRU) is the most popular stock in this table. On the other hand Black Knight Financial Services Inc (NYSE:BKFS) is the least popular one with only 9 bullish hedge fund positions. OGE Energy Corp. (NYSE:OGE) 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 TRU might be a better candidate to consider taking a long position in.

Disclosure: None