Hedge Funds Are Dumping Jabil Circuit, Inc. (JBL)

Because Jabil Circuit, Inc. (NYSE:JBL) has witnessed declining sentiment from the aggregate hedge fund industry, it’s safe to say that there is a sect of hedge funds that slashed their full holdings heading into Q4. At the top of the heap, Jim Simons’s Renaissance Technologies cut the biggest stake of the “upper crust” of funds followed by Insider Monkey, comprising about $3.9 million in stock, and Jacob Gottlieb’s Visium Asset Management was right behind this move, as the fund dumped about $1.8 million worth. These bearish behaviors are important to note, as aggregate hedge fund interest was cut by 2 funds heading into Q4.

Let’s go over hedge fund activity in other stocks similar to Jabil Circuit, Inc. (NYSE:JBL). These stocks are Six Flags Entertainment Corp (NYSE:SIX), Home Properties, Inc. (NYSE:HME), Hexcel Corporation (NYSE:HXL), and First Solar, Inc. (NASDAQ:FSLR). All of these stocks’ market caps are similar to JBL’s market cap.

As you can see these stocks had an average of 28 hedge funds with bullish positions and the average amount invested in these stocks was $514 million, slightly above the $310 million figure in JBL’s case. First Solar, Inc. (NASDAQ:FSLR) is the most popular stock in this table. On the other hand, Hexcel Corporation (NYSE:HXL) is the least popular one with only 19 bullish hedge fund positions. Jabil Circuit, Inc. (NYSE:JBL) 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 FSLR might be a better candidate to consider a long position.