Do Hedge Funds Love Advanced Energy Industries, Inc. (AEIS)?

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On the other hands, a number of investors elected to cut their entire stakes last quarter. Interestingly, Matthew Tewksbury’s Stevens Capital Management said goodbye to the biggest investment of all the investors tracked by Insider Monkey, totaling about $0.6 million in stock. Glenn Russell Dubin’s fund, Highbridge Capital Management, also dumped its stock worth about $0.5 million.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Advanced Energy Industries, Inc. (NASDAQ:AEIS) but similarly valued. We will take a look at Meritage Homes Corp (NYSE:MTH), Tessera Technologies, Inc. (NASDAQ:TSRA), Chemours Co (NYSE:CC), and Houlihan Lokey Inc (NYSE:HLI). This group of stocks’ market valuations are similar to AEIS’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
MTH 10 136566 -1
TSRA 29 302394 1
CC 31 735754 3
HLI 10 56230 2

As you can see these stocks had an average of 20 funds holding shares and the average amount invested in these stocks was $308 million. That figure was $152 million in AEIS’s case. Chemours Co (NYSE:CC) is the most popular stock in this table with 31 funds holding long positions. On the other hand Meritage Homes Corp (NYSE:MTH) is the least popular one with only 10 bullish hedge fund positions. Advanced Energy Industries, Inc. (NASDAQ:AEIS) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard Chemours Co (NYSE:CC) might be a better candidate to consider taking a long position in.

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