Evercore Partners Inc. (EVR) Fails to Attract Smart Money in Q3

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Due to the fact that Evercore Partners Inc. (NYSE:EVR) has experienced flat interest from the aggregate hedge fund industry, it’s easy to see that there exists a select few money managers that decided to sell off their full holdings by the end of the third quarter. At the top of the heap, Steve Cohen’s Point72 Asset Management sold off the biggest stake of the “upper crust” of funds tracked by Insider Monkey, worth close to $2.5 million in stock, and Matthew A. Weatherbie’s Weatherbie Capital was right behind this move, as the fund dumped about $1.9 million worth of shares. These bearish behaviors are intriguing to say the least, as total hedge fund interest stayed the same (this is a bearish signal in our experience).

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Evercore Partners Inc. (NYSE:EVR) but similarly valued. These stocks are Enbridge Energy Management, L.L.C. (NYSE:EEQ), Colony Financial Inc (NYSE:CLNY), Great Western Bancorp Inc (NYSE:GWB), and Talen Energy Corp (NYSE:TLN). All of these stocks’ market caps are similar to EVR’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
EEQ 6 23910 1
CLNY 25 320571 -2
GWB 11 43827 -1
TLN 20 193758 -4

As you can see these stocks had an average of 15.5 hedge funds with bullish positions and the average amount invested in these stocks was $146 million. That figure was $198 million in EVR’s case. Colony Financial Inc (NYSE:CLNY) is the most popular stock in this table. On the other hand Enbridge Energy Management, L.L.C. (NYSE:EEQ) is the least popular one with only 6 bullish hedge fund positions. Evercore Partners Inc. (NYSE:EVR) 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 CLNY might be a better candidate to consider a long position.

Disclosure: None

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