Here Is What Hedge Funds Think About Sensata Technologies Holding N.V. (ST)

Judging by the fact that Sensata Technologies Holding N.V. (NYSE:ST) has faced a decline in interest from the smart money, we can see that there is a sect of hedge funds that decided to sell off their entire stakes in the third quarter. It’s worth mentioning that Christopher Lord’s Criterion Capital dropped the biggest position of the “upper crust” of funds watched by Insider Monkey, valued at an estimated $29.4 million in stock. Will Cook’s fund, Sunriver Management, also sold off its stock, about $18.7 million worth. These transactions are important to note, as aggregate hedge fund interest was cut by 1 funds in the third quarter.

Let’s now take a look at hedge fund activity in other stocks similar to Sensata Technologies Holding N.V. (NYSE:ST). We will take a look at Macquarie Infrastructure Company LLC (NYSE:MIC), United Rentals, Inc. (NYSE:URI), STERIS Corp (NYSE:STE), and Michaels Companies Inc (NASDAQ:MIK). All of these stocks’ market caps resemble ST’s market cap.

As you can see these stocks had an average of 33.25 hedge funds with bullish positions and the average amount invested in these stocks was $684 million. That figure was $1393 million in ST’s case. Macquarie Infrastructure Company LLC (NYSE:MIC) is the most popular stock in this table. On the other hand STERIS Corp (NYSE:STE) is the least popular one with only 22 bullish hedge fund positions. Sensata Technologies Holding N.V. (NYSE:ST) 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 MIC might be a better candidate to consider a long position.

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Disclosure: None