Hedge Funds Grow Bearish On Boston Private Financial Hldg Inc (BPFH)

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that dumped their entire stakes in the stock during the third quarter. At the top of the heap, Glenn Russell Dubin’s Highbridge Capital Management dumped the largest position of all the investors tracked by Insider Monkey, worth an estimated $0.3 million in stock, and Paul Tudor Jones’ Tudor Investment Corp was right behind this move, as the fund said goodbye to about $0.3 million worth of shares.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Boston Private Financial Hldg Inc (NASDAQ:BPFH) but similarly valued. These stocks are Gamco Investors Inc. (NYSE:GBL), Hyster-Yale Materials Handling Inc (NYSE:HY), Gran Tierra Energy Inc. (NYSEAMEX:GTE), and Irsa Inversiones y Rprsntcins SA (ADR) (NYSE:IRS). This group of stocks’ market valuations are similar to BPFH’s market valuation.

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $90 million. That figure was $77 million in BPFH’s case. Gran Tierra Energy Inc. (NYSEAMEX:GTE) is the most popular stock in this table. On the other hand Gamco Investors Inc. (NYSE:GBL) is the least popular one with only 9 bullish hedge fund positions. Boston Private Financial Hldg Inc (NASDAQ:BPFH) 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 GTE might be a better candidate to consider taking a long position in.

Disclosure: None