Should You Add Verint Systems Inc. (VRNT) to Your Portfolio?

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that dumped their entire stakes in the stock during the third quarter. Intriguingly, Andrew Feldstein and Stephen Siderow’s Blue Mountain Capital dumped the biggest position of the “upper crust” of funds followed by Insider Monkey, valued at about $9.9 million in stock, and Michael Pollack’s Destrier Capital was right behind this move, as the fund said goodbye to about $4.8 million worth of shares.

Let’s go over hedge fund activity in other stocks similar to Verint Systems Inc. (NASDAQ:VRNT). These stocks are Bloomin’ Brands Inc (NASDAQ:BLMN), Pegasystems Inc. (NASDAQ:PEGA), Pinnacle Financial Partners (NASDAQ:PNFP), and Monro Muffler Brake Inc (NASDAQ:MNRO). This group of stocks’ market valuations match VRNT’s market valuation.

As you can see these stocks had an average of 15 hedge funds with bullish positions and the average amount invested in these stocks was $141 million. That figure was $294 million in VRNT’s case. Bloomin’ Brands Inc (NASDAQ:BLMN) is the most popular stock in this table. On the other hand Pinnacle Financial Partners (NASDAQ:PNFP) is the least popular one with only 10 bullish hedge fund positions. Verint Systems Inc. (NASDAQ:VRNT) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard Bloomin’ Brands Inc (NASDAQ:BLMN) might be a better candidate to consider taking a long position in.

Disclosure: None