Is Viavi Solutions Inc (VIAV) A Good Stock To Buy?

As one would reasonably expect, specific money managers were leading the bulls’ herd. Millennium Management, managed by Israel Englander, initiated the most outsized position in Viavi Solutions Inc (NASDAQ:VIAV). Millennium Management had $12.9 million invested in the company at the end of the quarter. Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital also made a $2.2 million investment in the stock during the quarter. The other funds with brand new VIAV positions are Ken Griffin’s Citadel Investment Group, Mike Vranos’s Ellington, and Philip Hempleman’s Ardsley Partners.

Let’s now review hedge fund activity in other stocks similar to Viavi Solutions Inc (NASDAQ:VIAV). We will take a look at Caesars Acquisition Company (NASDAQ:CACQ), Mobile Mini Inc (NASDAQ:MINI), Silver Standard Resources Inc. (USA) (NASDAQ:SSRI), and Brady Corp (NYSE:BRC). All of these stocks’ market caps are closest to VIAV’s market cap.

As you can see these stocks had an average of 13.75 hedge funds with bullish positions and the average amount invested in these stocks was $195 million. That figure was $215 million in VIAV’s case. Brady Corp (NYSE:BRC) is the most popular stock in this table. On the other hand Mobile Mini Inc (NASDAQ:MINI) is the least popular one with only 8 bullish hedge fund positions. Compared to these stocks Viavi Solutions Inc (NASDAQ:VIAV) 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.