Hedge Funds Aren’t Crazy About Boston Private Financial Hldg Inc (BPFH) Anymore

Due to the fact that Boston Private Financial Hldg Inc (NASDAQ:BPFH) has faced a declining sentiment from the entirety of the hedge funds we track, it’s safe to say that there lies a certain “tier” of funds who sold off their full holdings in the third quarter. Intriguingly, Philippe Jabre’s Jabre Capital Partners dropped the largest stake of the “upper crust” of funds watched by Insider Monkey, comprising about $3.1 million in stock, and Phill Gross and Robert Atchinson’s Adage Capital Management was right behind this move, as the fund dumped about $1.3 million worth of shares. These transactions are interesting, as aggregate hedge fund interest fell by 3 funds in the third quarter.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Boston Private Financial Hldg Inc (NASDAQ:BPFH) but similarly valued. We will take a look at Rush Enterprises, Inc. (NASDAQ:RUSHA), 1st Source Corporation (NASDAQ:SRCE), Neenah Paper, Inc. (NYSE:NP), and Kaman Corporation (NYSE:KAMN). This group of stocks’ market caps is similar to Boston Private Financial Hldg Inc (NASDAQ:BPFH)’s market cap.

As you can see, these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $82 million. That figure was $76 million in Boston Private Financial Hldg Inc (NASDAQ:BPFH)’s case. Kaman Corporation (NYSE:KAMN) is the most popular stock in this table. On the other hand, 1st Source Corporation (NASDAQ:SRCE) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks, Boston Private Financial Hldg Inc (NASDAQ:BPFH) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.