How Amsurg Corp (AMSG) Stacks Up Against Its Peers

Judging by the fact that Amsurg Corp (NASDAQ:AMSG) has faced a decline in interest from the aggregate hedge fund industry, it’s safe to say that there lies a certain “tier” of money managers that elected to cut their entire stakes by the end of the third quarter. It’s worth mentioning that Ken Heebner’s Capital Growth Management dumped the biggest stake of all the hedgies watched by Insider Monkey, totaling close to $42.6 million in stock. Peter Rathjens, Bruce Clarke and John Campbell’s fund, Arrowstreet Capital, also sold off its stock, about $17.9 million worth. These bearish behaviors are important to note, as total hedge fund interest dropped by 3 funds by the end of the third quarter.

Let’s check out hedge fund activity in other stocks similar to Amsurg Corp (NASDAQ:AMSG). These stocks are IPG Photonics Corporation (NASDAQ:IPGP), Realogy Holdings Corp (NYSE:RLGY), Cinemark Holdings, Inc. (NYSE:CNK), and The Madison Square Garden Co (NASDAQ:MSG). This group of stocks’ market valuations are closest to AMSG’s market valuation.

As you can see these stocks had an average of 25 hedge funds with bullish positions and the average amount invested in these stocks was $601 million. That figure was $490 million in AMSG’s case. Realogy Holdings Corp (NYSE:RLGY) is the most popular stock in this table. On the other hand IPG Photonics Corporation (NASDAQ:IPGP) is the least popular one with only 16 bullish hedge fund positions. Amsurg Corp (NASDAQ:AMSG) 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 RLGY might be a better candidate to consider for a long position.

Disclosure: None