Here is What Hedge Funds Think About Genesis Healthcare Inc (GEN)

Seeing as Genesis Healthcare Inc (NYSE:GEN) has witnessed falling interest from the aggregate hedge fund industry, it’s easy to see that there exists a select few fund managers that slashed their full holdings in the third quarter. It’s worth mentioning that Ken Griffin’s Citadel Investment Group dumped the biggest stake of the “upper crust” of funds monitored by Insider Monkey, valued at about $1.2 million in stock, and John Overdeck and David Siegel’s Two Sigma Advisors was right behind this move, as the fund said goodbye to about $0.2 million worth of shares. These moves are intriguing to say the least, as aggregate hedge fund interest fell by 2 funds in the third quarter.

Let’s also examine hedge fund activity in other stocks similar to Genesis Healthcare Inc (NYSE:GEN). These stocks are Rush Enterprises, Inc. (NASDAQ:RUSHB), State Auto Financial (NASDAQ:STFC), Textainer Group Holdings Limited (NYSE:TGH), and Inogen Inc (NASDAQ:INGN). This group of stocks’ market values are similar to GEN’s market value.

As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $38 million. That figure was $33 million in GEN’s case. Inogen Inc (NASDAQ:INGN) is the most popular stock in this table. On the other hand Rush Enterprises, Inc. (NASDAQ:RUSHB) is the least popular one with only 4 bullish hedge fund positions. Genesis Healthcare Inc (NYSE:GEN) 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 INGN might be a better candidate to consider a long position.