Is SunOpta, Inc. (USA) (STKL) A Good Stock To Buy?

With a general bullishness amongst the heavyweights, some big names were leading the bulls’ herd. Millennium Management, managed by Israel Englander, assembled the biggest position in SunOpta, Inc. (USA) (NASDAQ:STKL). Millennium Management had $0.8 million invested in the company at the end of the quarter. Brad Dunkley and Blair Levinsky’s Waratah Capital Advisors also initiated a $0.8 million position during the quarter. The other funds with new positions in the stock are Peter Muller’s PDT Partners, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, and Ken Gray and Steve Walsh’s Bryn Mawr Capital.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as SunOpta, Inc. (USA) (NASDAQ:STKL) but similarly valued. These stocks are GenMark Diagnostics, Inc (NASDAQ:GNMK), NewBridge Bancorp (NASDAQ:NBBC), Neos Therapeutics Inc (NASDAQ:NEOS), and Potbelly Corp (NASDAQ:PBPB). This group of stocks’ market valuations are closest to STKL’s market valuation.

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $53 million. That figure was $139 million in STKL’s case. Potbelly Corp (NASDAQ:PBPB) is the most popular stock in this table with 15 funds holding shares. On the other hand Neos Therapeutics Inc (NASDAQ:NEOS) is the least popular one. Compared to these stocks SunOpta, Inc. (USA) (NASDAQ:STKL) 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.