Hedge Funds Are Selling Silver Standard Resources Inc. (USA) (SSRI)

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We already know that not all hedge funds are bullish on the stock and some hedge funds actually dumped their positions entirely. It’s worth mentioning that David Iben’s Kopernik Global Investors dumped the largest stake of the 700 funds followed by Insider Monkey, totaling an estimated $17.2 million in Silver Standard Resources Inc. (USA) (NASDAQ:SSRI) stock, and Ken Griffin’s Citadel Investment Group was right behind this move, as the fund dropped about $2.8 million worth of shares.

Let’s check out hedge fund activity in other stocks similar to Silver Standard Resources Inc. (USA) (NASDAQ:SSRI). We will take a look at DeVry Inc. (NYSE:DV), Vonage Holdings Corp. (NYSE:VG), Cambrex Corporation (NYSE:CBM), and China Lodging Group, Ltd (ADR) (NASDAQ:HTHT). This group of stocks’ market values match SSRI’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
DV 26 479156 3
VG 26 164991 2
CBM 19 46595 2
HTHT 16 118561 1

As you can see these stocks had an average of 22 hedge funds with bullish positions and the average amount invested in these stocks was $202 million. That figure was $126 million in SSRI’s case. DeVry Inc. (NYSE:DV) is the most popular stock in this table. On the other hand China Lodging Group, Ltd (ADR) (NASDAQ:HTHT) is the least popular one with only 16 bullish hedge fund positions. Compared to these stocks Silver Standard Resources Inc. (USA) (NASDAQ:SSRI) is even less popular than HTHT. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.

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Disclosure: None




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