Here is What Hedge Funds Think About ePlus Inc. (PLUS)

Seeing as ePlus Inc. (NASDAQ:PLUS) has experienced a bearish sentiment from hedge fund managers, it’s safe to say that there lies a certain “tier” of money managers that elected to cut their entire stakes last quarter. Intriguingly, John H. Lewis’ Osmium Partners said goodbye to the largest position of the “upper crust” of funds followed by Insider Monkey, valued at about $5 million in stock, and Israel Englander’s Millennium Management was right behind this move, as the fund said goodbye to about $1.8 million worth. These bearish behaviors are interesting, as aggregate hedge fund interest fell by 2 funds last quarter.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as ePlus Inc. (NASDAQ:PLUS) but similarly valued. We will take a look at 1-800-FLOWERS.COM, Inc. (NASDAQ:FLWS), Avianca Holdings SA (ADR) (NYSE:AVH), WCI Communities Inc (NYSE:WCIC), and H&E Equipment Services, Inc. (NASDAQ:HEES). This group of stocks’ market caps resemble PLUS’s market cap.

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $57 million, compared $31 million in PLUS’s case. WCI Communities Inc (NYSE:WCIC) is the most popular stock in this table, while Avianca Holdings SA (ADR) (NYSE:AVH) is the least popular one with only 4 bullish hedge fund positions. ePlus Inc. (NASDAQ:PLUS) 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 WCIC might be a better candidate to consider a long position.