Do Hedge Funds Love Manning and Napier Inc (MN)?

Seeing as Manning and Napier Inc (NYSE:MN) has sustained bearish sentiment from hedge fund managers, we can see that there was a specific group of fund managers that slashed their entire stakes by the end of the third quarter. Interestingly, Anton Schutz’s Mendon Capital Advisors cut the biggest investment of all the hedgies followed by Insider Monkey, comprising an estimated $4.8 million in stock. Matthew Hulsizer’s fund, PEAK6 Capital Management, also dropped its call options, about $0.1 million worth.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Manning and Napier Inc (NYSE:MN) but similarly valued. We will take a look at Cell Therapeutics Inc (NASDAQ:CTIC), Energy Fuels Inc Ordinary Shares (Canada) (NYSEMKT:UUUU), Neos Therapeutics Inc (NASDAQ:NEOS), and Taseko Mines Limited (USA) (NYSEAMEX:TGB). This group of stocks’ market valuations resemble MN’s market valuation.

As you can see these stocks had an average of 6 hedge funds with bullish positions and the average amount invested in these stocks was $8 million. That figure was $24 million in MN’s case. Cell Therapeutics Inc (NASDAQ:CTIC) is the most popular stock in this table. On the other hand Taseko Mines Limited (USA) (NYSEAMEX:TGB) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Manning and Napier Inc (NYSE:MN) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None