Is Wolverine World Wide, Inc. (WWW) A Good Stock To Buy?

We already know that not all hedge funds are bullish on the stock and some hedge funds actually got rid of their positions entirely. Interestingly, Steve Cohen’s Point72 Asset Management got rid of the biggest position of the “upper crust” of funds monitored by Insider Monkey, valued at close to $20.4 million in stock. Alexander Mitchell’s fund, Scopus Asset Management, also dumped its stock, about $17.2 million worth of Wolverine shares.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Wolverine World Wide, Inc. (NYSE:WWW) but similarly valued. We will take a look at LogMeIn Inc (NASDAQ:LOGM), Sterling Bancorp (NYSE:STL), Chemed Corporation (NYSE:CHE), and Electronics For Imaging, Inc. (NASDAQ:EFII). This group of stocks’ market caps resemble WWW’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
LOGM 27 300642 6
STL 13 77719 4
CHE 15 243945 -2
EFII 10 158491 0

As you can see these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $195 million. That figure was $135 million in WWW’s case. LogMeIn Inc (NASDAQ:LOGM) is the most popular stock in this table. On the other hand Electronics For Imaging, Inc. (NASDAQ:EFII) is the least popular one with only 10 bullish hedge fund positions. Wolverine World Wide, Inc. (NYSE:WWW) 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 LOGM might be a better candidate to consider taking a long position in.

Disclosure: none.