Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

What Hedge Funds Think About Oxford Immunotec Global PLC (OXFD)

We view hedge fund activity in the stock unfavorable, but in this case there was only a single hedge fund selling its entire position: Citadel Investment Group. One hedge fund selling its entire position doesn’t always imply a bearish intent. Theoretically a hedge fund may decide to sell a promising position in order to invest the proceeds in a more promising idea. However, we don’t think this is the case in this case, because only one of the 700+ hedge funds tracked by Insider Monkey identified as a viable investment and initiated a position in the stock (that fund was Birchview Capital).

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Oxford Immunotec Global PLC (NASDAQ:OXFD) but similarly valued. We will take a look at Triumph Bancorp Inc (NASDAQ:TBK), Bassett Furniture Industries Inc. (NASDAQ:BSET), Trecora Resources (NYSE:TREC), and AV Homes Inc (NASDAQ:AVHI). This group of stocks’ market values are similar to OXFD’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
TBK 9 36898 5
BSET 10 45306 -1
TREC 7 10592 1
AVHI 9 33810 0

As you can see these stocks had an average of 9 hedge funds with bullish positions and the average amount invested in these stocks was $32 million. That figure was $63 million in OXFD’s case. Bassett Furniture Industries Inc. (NASDAQ:BSET) is the most popular stock in this table. On the other hand Trecora Resources (NYSE:TREC) is the least popular one with only 7 bullish hedge fund positions. Oxford Immunotec Global PLC (NASDAQ:OXFD) registers an average level of interest from the funds we track, when compared to some of its market cap peers. This may be a slightly positive signal, but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard BSET might be a better candidate to consider a long position.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading...