As aggregate interest increased, specific money managers have jumped into Mistras Group Inc (NYSE:MG) headfirst. Glenn Russell Dubin’s Highbridge Capital Management initiated the biggest position in Mistras Group, Inc. (NYSE:MG). According to its latest 13F filing, the fund had $0.2 million invested in the company at the end of the quarter.
Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Mistras Group Inc (NYSE:MG) but similarly valued. These stocks are CommerceHub Inc (NASDAQ:CHUBK), TrustCo Bank Corp NY (NASDAQ:TRST), Flushing Financial Corporation (NASDAQ:FFIC), and Civitas Solutions Inc (NYSE:CIVI). This group of stocks’ market valuations match MG’s market valuation.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $67 million. That figure was $45 million in MG’s case. CommerceHub Inc (NASDAQ:CHUBK) is the most popular stock in this table. On the other hand Civitas Solutions Inc (NYSE:CIVI) is the least popular one with only 8 bullish hedge fund positions. Mistras Group Inc (NYSE:MG) 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 CHUBK might be a better candidate to consider taking a long position in.