Hedge Funds Are Dumping Interactive Intelligence Group Inc (ININ)

Due to the fact that Interactive Intelligence Group Inc (NASDAQ:ININ) has witnessed a falling interest from the smart money, it’s safe to say that there exists a select few fund managers who were dropping their entire stakes heading into Q4. Intriguingly, Glenn Russell Dubin’s Highbridge Capital Management cut the biggest stake of the “upper crust” of funds tracked by Insider Monkey, valued at about $1.9 million in stock. Nick Niell’s fund, Arrowgrass Capital Partners, also sold off its stock, about $1.4 million worth of shares. These bearish behaviors are interesting, as total hedge fund interest fell by 1 fund heading into Q4.

Let’s now take a look at hedge fund activity in other stocks similar to Interactive Intelligence Group Inc (NASDAQ:ININ). These stocks are Sandy Spring Bancorp Inc. (NASDAQ:SASR), Valhi, Inc. (NYSE:VHI), and Windstream Holdings, Inc. (NASDAQ:WIN). This group of stocks’ market values are closest to Interactive Intelligence Group Inc (NASDAQ:ININ)’s market value.

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 $33 million. That figure was $122 million in Interactive Intelligence Group Inc (NASDAQ:ININ)’s case. Windstream Holdings, Inc. (NASDAQ:WIN) is the most popular stock in this table. On the other hand, Sandy Spring Bancorp Inc. (NASDAQ:SASR) is the least popular one with only 4 bullish hedge fund positions. Interactive Intelligence Group Inc (NASDAQ:ININ) 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, Windstream Holdings, Inc. (NASDAQ:WIN) might be a better candidate to consider a long position.