AMAYA INC (AYA) Not Gaming its Way into Hedge Funds’ Hearts

Due to the fact that AMAYA INC (NASDAQ:AYA) has witnessed falling interest from hedge fund managers, it’s easy to see that there exists a select few hedgies who sold off their entire stakes by the end of the third quarter. It’s worth mentioning that Kevin D. Eng’s Columbus Hill Capital Management dumped the biggest investment of the “upper crust” of funds followed by Insider Monkey, totaling an estimated $15.8 million in stock. Curtis Schenker and Craig Effron’s fund, Scoggin, also cut its stock, about $10 million worth. These moves are intriguing to say the least, as aggregate hedge fund interest dropped by 1 fund by the end of the third quarter.

Let’s now review hedge fund activity in other stocks similar to AMAYA INC (NASDAQ:AYA). These stocks are Healthcare Services Group, Inc. (NASDAQ:HCSG), Energizer Holdings, Inc. (NYSE:ENR), Sears Holdings Corporation (NASDAQ:SHLD), and Proofpoint Inc (NASDAQ:PFPT). This group of stocks’ market values match AYA’s market value.

As you can see these stocks had an average of 18 hedge funds with bullish positions and the average amount invested in these stocks was $576 million. That figure was $663 million in AYA’s case. Energizer Holdings, Inc. (NYSE:ENR) is the most popular stock in this table. On the other hand Healthcare Services Group, Inc. (NASDAQ:HCSG) is the least popular one with only 5 bullish hedge fund positions. AMAYA INC (NASDAQ:AYA) 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 ENR, SHLD, and PFPT might be better candidates to consider long positions in.