Is Ruby Tuesday, Inc. (RT) A Good Stock To Buy?

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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. At the top of the heap, Michael Swotes’ Castle Ridge Investment Management cut the largest stake of all the investors studied by Insider Monkey, valued at close to $1.1 million in stock. Mike Vranos’ fund, Ellington, also said goodbye to its stock, about $0.1 million worth.

Let’s also examine hedge fund activity in other stocks similar to Ruby Tuesday, Inc. (NYSE:RT). We will take a look at Telenav Inc (NASDAQ:TNAV), Malibu Boats Inc (NASDAQ:MBUU), Nutraceutical Int’l Corp. (NASDAQ:NUTR), and Spartan Motors Inc (NASDAQ:SPAR). This group of stocks’ market valuations match RT’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
TNAV 9 52911 -1
MBUU 14 15825 5
NUTR 4 24796 -1
SPAR 14 49536 1

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 $36 million. That figure was $23 million in RT’s case. Malibu Boats Inc (NASDAQ:MBUU) is the most popular stock in this table. On the other hand Nutraceutical Int’l Corp. (NASDAQ:NUTR) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Ruby Tuesday, Inc. (NYSE:RT) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None

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