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Do you adhere to the principles of value investing? If so, here's a list you might be interested in.

We began by screening for stocks that are technically oversold, with Relative Strength Index readings over the last 14 days below 40. We then screened for those that appear undervalued relative to earnings growth, with PEG below 1, and undervalued relative to free cash flows, with P/FCF below 15.

We then screened for those with bullish sentiment from institutional investors, with significant net institutional purchases over the last quarter representing at least 5% of share float. This indicates that institutional investors such as hedge fund managers and mutual fund managers expect these names to outperform into the future.

For an interactive version of this chart, click on the image below. Analyst ratings sourced from Zacks Investment Research.

Tool provided by Kapitall (kapitall.com).

Do you think these names should be trading higher? Use this list as a starting point for your own analysis.

List sorted by net institutional purchases as a percent of share float.

1. MGM Resorts International (MGM): Operates casino resorts in the United States. Market cap at $4.78B, most recent closing price at $9.77. PEG at 0.14. P/FCF at 8.5. RSI(14) at 34.87. Net institutional purchases in the current quarter at 39.4M shares, which represents about 11.8% of the company's float of 333.84M shares.

2. SYNNEX Corp. (SNX): Provides distribution and business process outsourcing services to resellers, retailers, and original equipment manufacturers (OEMs). Market cap at $1.24B, most recent closing price at $33.16. PEG at 0.76. P/FCF at 8.37. RSI(14) at 38.12. Net institutional purchases in the current quarter at 2.6M shares, which represents about 10.01% of the company's float of 25.97M shares.

3. Smithfield Foods Inc. (SFD): Engages in the production and marketing of fresh meat and packaged meat products in the United States and internationally. Market cap at $2.81B, most recent closing price at $18.17. PEG at 0.91. P/FCF at 10.07. RSI(14) at 37.02. Net institutional purchases in the current quarter at 11.5M shares, which represents about 8.3% of the company's float of 138.63M shares.

4. Raymond James Financial Inc. (RJF): Engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, as well as the sale of mutual funds and other investment products in the United States, Canada, and Europe. Market cap at $4.54B, most recent closing price at $32.93. PEG at 0.99. P/FCF at 11.97. RSI(14) at 39.24. Net institutional purchases in the current quarter at 9.2M shares, which represents about 8.09% of the company's float of 113.69M shares.

5. hhgregg, Inc. (HGG): Operates as a specialty retailer of consumer electronics, home appliances, and related services. Market cap at $228.81M, most recent closing price at $6.34. PEG at 0.38. P/FCF at 6.73. RSI(14) at 20.4. Net institutional purchases in the current quarter at 1.3M shares, which represents about 7.93% of the company's float of 16.39M shares.

6. FTI Consulting, Inc. (FCN): Operates as a business advisory company worldwide. Market cap at $1.05B, most recent closing price at $25.10. PEG at 0.69. P/FCF at 8.48. RSI(14) at 30.49. Net institutional purchases in the current quarter at 2.9M shares, which represents about 7.41% of the company's float of 39.16M shares.

7. Datalink Corp. (DTLK): Engages in the design, installation, and support of data center solutions to mid and large-size companies. Market cap at $147.11M, most recent closing price at $8.15. PEG at 0.6. P/FCF at 10.36. RSI(14) at 32.03. Net institutional purchases in the current quarter at 858.5K shares, which represents about 5.6% of the company's float of 15.32M shares.

8. Atlas Air Worldwide Holdings Inc. (AAWW): Provides air cargo and outsourced aircraft operating solutions worldwide. Market cap at $1.11B, most recent closing price at $42.16. PEG at 0.72. P/FCF at 10.81. RSI(14) at 39.88. Net institutional purchases in the current quarter at 1.3M shares, which represents about 5.01% of the company's float of 25.96M shares.

*Profitability data sourced from Fidelity, all other data sourced from Finviz.

Source: 8 Undervalued And Oversold Stocks Being Bought Up By Hedge Funds