Is Vonage Holdings Corp. (VG) A Good Stock To Buy?

As industrywide interest jumped, some big names were leading the bulls’ herd. HBK Investments, managed by David Costen Haley, created the biggest position in Vonage Holdings Corp. (NYSE:VG). HBK Investments had $2.2 million invested in the company at the end of the quarter. Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital also made a $1.4 million investment in the stock during the quarter. The other funds with new positions in the stock are Clifford Fox’s Columbus Circle Investors, Peter Algert and Kevin Coldiron’s Algert Coldiron Investors, and Peter Muller’s PDT Partners.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Vonage Holdings Corp. (NYSE:VG) but similarly valued. These stocks are Cohen & Steers, Inc. (NYSE:CNS), Northwest Natural Gas Co (NYSE:NWN), Stillwater Mining Company (NYSE:SWC), and AZZ Inc (NYSE:AZZ). This group of stocks’ market caps are closest to VG’s market cap.

As you can see these stocks had an average of 10.25 hedge funds with bullish positions and the average amount invested in these stocks was $79 million. That figure was $110 million in VG’s case. Cohen & Steers, Inc. (NYSE:CNS) is the most popular stock in this table. On the other hand AZZ Inc (NYSE:AZZ) is the least popular one with only 7 bullish hedge fund positions. Compared to these stocks Vonage Holdings Corp. (NYSE:VG) 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.