Do Hedge Funds Love CLARCOR Inc. (CLC)?

We already know that not all hedge funds are bullish on the stock and some hedge funds actually cashed in their positions entirely. At the top of the heap, Glenn Russell Dubin’s Highbridge Capital Management cashed in the biggest investment of the “upper crust” of funds watched by Insider Monkey, comprising close to $3.2 million in stock. Phill Gross and Robert Atchinson’s fund, Adage Capital Management, also sold off its stock, about $2.7 million worth.

Let’s go over hedge fund activity in other stocks similar to CLARCOR Inc. (NYSE:CLC). These stocks are Harbinger Group Inc (NYSE:HRG), Leidos Holdings Inc (NYSE:LDOS), Education Realty Trust, Inc. (NYSE:EDR), and Blackbaud, Inc. (NASDAQ:BLKB). This group of stocks’ market values match CLC’s market value.

As you can see these stocks had an average of 20 funds with bullish positions and the average amount invested in these stocks was $613 million, versus $109 million in CLC’s case. Harbinger Group Inc (NYSE:HRG) and Leidos Holdings Inc (NYSE:LDOS) are the most popular stocks in this table. On the other hand Education Realty Trust, Inc. (NYSE:EDR) is the least popular one with only 11 bullish hedge fund positions. CLARCOR Inc. (NYSE:CLC) 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 HRG or LDOS might be better candidates to consider taking a long position in.

Disclosure: none