Is Trupanion Inc (TRUP) A Good Stock To Buy?

As one would reasonably expect, key hedge funds were leading the bulls’ herd. Broadfin Capital assembled the largest position in Trupanion Inc (NYSE:TRUP). Jonathan Lourie and Stuart Fiertz’s Cheyne Capital also made a $1 million investment in the stock during the quarter. The other funds with brand new TRUP positions are Ken Griffin’s Citadel Investment Group, Frank Slattery’s Symmetry Peak Management, and Richard Driehaus’ Driehaus Capital.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Trupanion Inc (NYSE:TRUP) but similarly valued. We will take a look at Camden National Corporation (NASDAQ:CAC), ArcBest Corp (NASDAQ:ARCB), PJT Partners Inc (NYSE:PJT), and Bazaarvoice Inc (NASDAQ:BV). This group of stocks’ market values resemble TRUP’s market value.

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $95 million. That figure was $36 million in TRUP’s case. Bazaarvoice Inc (NASDAQ:BV) is the most popular stock in this table. On the other hand Camden National Corporation (NASDAQ:CAC) is the least popular one with only 6 bullish hedge fund positions. Trupanion Inc (NYSE:TRUP) 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 BV might be a better candidate to consider taking a long position in.

Disclosure: None