Is Superior Energy Services, Inc. (SPN) A Good Stock To Buy?

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that sold off their entire stakes in the stock during the third quarter. Interestingly, Vince Maddi and Shawn Brennan’s SIR Capital Management sold off the largest stake of the “upper crust” of funds followed by Insider Monkey, worth about $12.6 million in stock, and Kenneth Tropin’s Graham Capital Management was right behind this move, as the fund cut about $7.8 million worth of shares.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Superior Energy Services, Inc. (NYSE:SPN) but similarly valued. We will take a look at InterDigital, Inc. (NASDAQ:IDCC), Graham Holdings Co (NYSE:GHC), LaSalle Hotel Properties (NYSE:LHO), and Oceaneering International (NYSE:OII). All of these stocks’ market caps are similar to SPN’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
IDCC 24 260168 7
GHC 17 595112 -2
LHO 13 21906 -1
OII 22 165804 -10

As you can see these stocks had an average of 19 hedge funds with bullish positions and the average amount invested in these stocks was $261 million. That figure was $235 million in SPN’s case. InterDigital, Inc. (NASDAQ:IDCC) is the most popular stock in this table. On the other hand LaSalle Hotel Properties (NYSE:LHO) is the least popular one with only 13 bullish hedge fund positions. Compared to these stocks Superior Energy Services, Inc. (NYSE:SPN) 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