Should You Add EarthLink Holdings Corp. (ELNK) to Your Portfolio?

Due to the fact thatEarthLink Holdings Corp. (NASDAQ:ELNK) has weathered bearish sentiment from hedge fund managers, it’s safe to say that there lies a certain “tier” of money managers that elected to cut their entire stakes last quarter. Intriguingly, Robert B. Gillam’s McKinley Capital Management cut the largest investment of the “upper crust” of funds watched by Insider Monkey, totaling close to $5.6 million in stock, and Mark Coe’s Coe Capital Management was right behind this move, as the fund sold off about $4.9 million worth of shares.

Let’s now take a look at hedge fund activity in other stocks similar toEarthLink Holdings Corp. (NASDAQ:ELNK). We will take a look at Nimble Storage Inc (NYSE:NMBL), New York Mortgage Trust, Inc. (NASDAQ:NYMT), The Providence Service Corporation (NASDAQ:PRSC), and Calgon Carbon Corporation (NYSE:CCC). This group of stocks’ market values match ELNK’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
NMBL 19 182228 5
NYMT 3 1860 0
PRSC 10 159116 -5
CCC 12 26019 -3

As you can see these stocks had an average of 11 funds with bullish positions and the average amount invested in these stocks was $92 million. That figure was $98 million in ELNK’s case. Nimble Storage Inc (NYSE:NMBL) is the most popular stock in this table, while New York Mortgage Trust, Inc. (NASDAQ:NYMT) is the least popular one with only three bullish hedge fund positions. Compared to these stocksEarthLink Holdings Corp. (NASDAQ:ELNK) 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.