Hedge Funds Are Dumping Emergent Biosolutions Inc (EBS)

Page 2 of 2

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that said goodbye to their entire stakes in the stock during the third quarter. Interestingly, Israel Englander’s Millennium Management said dropped the largest investment of all the hedgies watched by Insider Monkey, comprising about $4.2 million in stock, and David Costen Haley’s HBK Investments was right behind this move, as the fund dumped about $0.7 million worth of Emergent Biosolutions Inc (NYSE:EBS) shares.

Let’s now review hedge fund activity in other stocks similar to Emergent Biosolutions Inc (NYSE:EBS). These stocks are 8Point3 Energy Partners LP (NASDAQ:CAFD), Terreno Realty Corporation (NYSE:TRNO), Benefitfocus Inc (NASDAQ:BNFT), and Caesars Entertainment Corp (NASDAQ:CZR). This group of stocks’ market values are closest to EBS’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
CAFD 12 47538 4
TRNO 9 21755 0
BNFT 9 14523 2
CZR 21 328435 0

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $103 million. That figure was $135 million in EBS’s case. Caesars Entertainment Corp (NASDAQ:CZR) is the most popular stock in this table. On the other hand Terreno Realty Corporation (NYSE:TRNO) is the least popular one with only 9 bullish hedge fund positions. Emergent Biosolutions Inc (NYSE:EBS) 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 CZR might be a better candidate to consider taking a long position in.

Disclosure: none.

Page 2 of 2