Should You Avoid Service Corporation International (SCI)?

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that got rid of their entire stakes in the stock during the third quarter. At the top of the heap, David Cohen and Harold Levy’s Iridian Asset Management got rid of the biggest position of the “upper crust” of funds watched by Insider Monkey, totaling an estimated $109.8 million in stock, and George Soros’ Soros Fund Management was right behind this move, as the fund said goodbye to about $0.6 million worth of shares.

Let’s now take a look at hedge fund activity in other stocks similar to Service Corporation International (NYSE:SCI). These stocks are United Therapeutics Corporation (NASDAQ:UTHR), ON Semiconductor Corp (NASDAQ:ON), PTC Inc (NASDAQ:PTC), and TFS Financial Corporation (NASDAQ:TFSL). This group of stocks’ market valuations are similar to SCI’s market valuation.

As you can see these stocks had an average of 24 funds with bullish positions and the average amount invested in these stocks was $727 million. That figure was $390 million in SCI’s case. United Therapeutics Corporation (NASDAQ:UTHR) is the most popular stock in this table. On the other hand TFS Financial Corporation (NASDAQ:TFSL) is the least popular one with only 12 bullish hedge fund positions. Service Corporation International (NYSE:SCI) 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 United Therapeutics Corporation (NASDAQ:UTHR) might be a better candidate to consider taking a long position in.

Suggested Articles:
Worst Countries For Black People To Travel
States With The Toughest Drug Laws
Best Places To Visit in Mongolia

Disclosure: None