Hedge Funds Are Dumping CalAmp Corp. (CAMP)

Due to the fact that CalAmp Corp. (NASDAQ:CAMP) has faced falling interest from the smart money, it’s easy to see that there lies a certain “tier” of hedge funds that elected to cut their entire stakes heading into Q4. Mark Broach’s fund, Manatuck Hill Partners, dropped its stock, about $1.5 million worth.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as CalAmp Corp. (NASDAQ:CAMP) but similarly valued. These stocks are Stoneridge, Inc. (NYSE:SRI), Actua Corp (NASDAQ:ACTA), SciClone Pharmaceuticals, Inc. (NASDAQ:SCLN), and XO Group Inc (NYSE:XOXO). This group of stocks’ market caps resemble CAMP’s market cap.

As you can see these stocks had an average of 17 hedge funds with bullish positions and the average amount invested in these stocks was $78 million. That figure was $27 million in CAMP’s case. Stoneridge, Inc. (NYSE:SRI) is the most popular stock in this table. On the other hand Actua Corp (NASDAQ:ACTA) is the least popular one with only 8 bullish hedge fund positions. CalAmp Corp. (NASDAQ:CAMP) 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 SRI might be a better candidate to consider taking a long position in.