Is Quotient Technology Inc (QUOT) A Good Stock To Buy?

Now, specific money managers were leading the bulls’ herd. Arrowstreet Capital established the most valuable position in Quotient Technology Inc (NYSE:QUOT). Israel Englander’s Millennium Management also made a $7.5 million investment in the stock during the quarter. The other funds with new positions in the stock are Eric Semler’s TCS Capital Management, John Overdeck and David Siegel’s Two Sigma Advisors, and Paul Tudor Jones’ Tudor Investment Corp.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Quotient Technology Inc (NYSE:QUOT) but similarly valued. These stocks are Trade Desk Inc (NASDAQ:TTD), Multi Packaging Solutions Intrntnl Ltd (NYSE:MPSX), CONMED Corporation (NASDAQ:CNMD), and Multi-Color Corporation (NASDAQ:LABL). This group of stocks’ market values resemble QUOT’s market value.

As you can see these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $74 million. That figure was $42 million in QUOT’s case. CONMED Corporation (NASDAQ:CNMD) is the most popular stock in this table. On the other hand Multi-Color Corporation (NASDAQ:LABL) is the least popular one with only 7 bullish hedge fund positions. Quotient Technology Inc (NYSE:QUOT) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard CNMD might be a better candidate to consider taking a long position in.

Disclosure: None