Should You Avoid SunOpta, Inc. (USA) (STKL)?

We already know that not all hedge funds are bullish on the stock and some hedge funds actually got rid of their positions entirely. At the top of the heap, Mariko Gordon’s Daruma Asset Management got rid of the biggest position of all the investors tracked by Insider Monkey, comprising close to $13 million in stock, and Derek C. Schrier’s Indaba Capital Management was right behind this move, as the fund dumped about $2.2 million worth of shares.

Let’s now take a look at hedge fund activity in other stocks similar to SunOpta, Inc. (USA) (NASDAQ:STKL). We will take a look at Blackrock Kelso Capital Corp. (NASDAQ:BKCC), CVR Partners LP (NYSE:UAN), FARO Technologies, Inc. (NASDAQ:FARO), and Cryolife Inc (NYSE:CRY). All of these stocks’ market caps are closest to STKL’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
BKCC 10 5817 2
UAN 4 709 0
FARO 15 50840 6
CRY 14 33992 -1

As you can see these stocks had an average of 10.75 hedge funds with bullish positions and the average amount invested in these stocks was $23 million. That figure was $206 million in STKL’s case. FARO Technologies, Inc. (NASDAQ:FARO) is the most popular stock in this table. On the other hand CVR Partners LP (NYSE:UAN) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks SunOpta, Inc. (USA) (NASDAQ:STKL) 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.

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Disclosure: None