Is SunCoke Energy, Inc (SXC) A Good Stock To Buy?

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that said goodbye to their entire stakes in the stock during the third quarter. Interestingly, Wilmot B. Harkey and Daniel Mack’s Nantahala Capital Management said goodbye to the biggest stake of the “upper crust” of funds monitored by Insider Monkey, comprising about $2.7 million in stock. Glenn Russell Dubin’s fund, Highbridge Capital Management, also dropped its stock, about $0.2 million worth of SXC shares.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as SunCoke Energy, Inc (NYSE:SXC) but similarly valued. These stocks are InnerWorkings, Inc. (NASDAQ:INWK), Chromcraft Revington, Inc. (NYSEAMEX:CRC), Cobalt International Energy, Inc. (NYSE:CIE), and CalAmp Corp. (NASDAQ:CAMP). This group of stocks’ market values resemble SXC’s market value.

As you can see these stocks had an average of 17 hedge funds with bullish positions and the average amount invested in these stocks was $134 million. That figure was $158 million in SXC’s case. Chromcraft Revington, Inc. (NYSEAMEX:CRC) is the most popular stock in this table. On the other hand CalAmp Corp. (NASDAQ:CAMP) is the least popular one with only 11 bullish hedge fund positions. SunCoke Energy, Inc (NYSE:SXC) 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 CRC might be a better candidate to consider taking a long position in.

Disclosure: none.