Hedge Funds Aren’t Crazy About Habit Restaurants Inc (HABT) Anymore

Seeing as Habit Restaurants Inc (NASDAQ:HABT) has encountered falling interest from the entirety of the hedge funds we track, it’s easy to see that there is a sect of funds who sold off their positions entirely by the end of the third quarter. Interestingly, Steven Boyd’s Armistice Capital said goodbye to the biggest position of all the hedgies tracked by Insider Monkey, comprising an estimated $3.9 million in stock. Benjamin A. Smith’s fund, Laurion Capital Management, also said goodbye to its stock, about $3.3 million worth.

Let’s now review hedge fund activity in other stocks similar to Habit Restaurants Inc (NASDAQ:HABT). These stocks are Johnson Outdoors Inc. (NASDAQ:JOUT), Horizon Global Corp (NYSE:HZN), Invacare Corporation (NYSE:IVC), and Versartic Inc (NASDAQ:VSAR). All of these stocks’ market caps are similar to HABT’s market cap.

As you can see these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $72 million. That figure was $42 million in HABT’s case. Horizon Global Corp (NYSE:HZN) is the most popular stock in this table. On the other hand Johnson Outdoors Inc. (NASDAQ:JOUT) is the least popular one with only 6 bullish hedge fund positions. Habit Restaurants Inc (NASDAQ:HABT) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard HZN might be a better candidate to consider taking a long position in.

Disclosure: None