Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Versum Materials Inc (NYSE:VSM) but similarly valued. We will take a look at FireEye Inc (NASDAQ:FEYE), Pinnacle Financial Partners (NASDAQ:PNFP), Compass Minerals International, Inc. (NYSE:CMP), and TCF Financial Corporation (NYSE:TCB). This group of stocks’ market valuations are similar to VSM’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 15 funds with bullish positions and the average amount invested in these stocks was $128 million, compared to $72 million in VSM’s case. FireEye Inc (NASDAQ:FEYE) is the most popular stock in this table. On the other hand Compass Minerals International, Inc. (NYSE:CMP) is the least popular one with only six bullish hedge fund positions. Versum Materials Inc (NYSE:VSM) 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 FireEye Inc (NASDAQ:FEYE) might be a better candidate to consider taking a long position in.