Is AMAG Pharmaceuticals, Inc. (AMAG) Going to Burn These Hedge Funds?

Seeing as AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) has witnessed bearish sentiment from the aggregate hedge fund industry, it’s easy to see that there were a few money managers who sold off their entire stakes last quarter. It’s worth mentioning that Anders Hallberg and Carl Bennet’s HealthInvest Partners AB dropped the biggest stake of the “upper crust” of funds monitored by Insider Monkey, comprising close to $16.1 million in stock, and Jonathan Savitz’s Greywolf Capital Management was right behind this move, as the fund dropped about $15.8 million worth of AMAG shares. These transactions are intriguing to say the least, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).

Let’s now review hedge fund activity in other stocks similar to AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG). We will take a look at Crocs, Inc. (NASDAQ:CROX), iKang Healthcare Group Inc (ADR) (NASDAQ:KANG), Air Transport Services Group Inc. (NASDAQ:ATSG), and Denny’s Corporation (NASDAQ:DENN). This group of stocks’ market caps are similar to AMAG’s market cap.

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 $108 million. That figure was $261 million in AMAG’s case. Air Transport Services Group Inc. (NASDAQ:ATSG) is the most popular stock in this table. On the other hand Crocs, Inc. (NASDAQ:CROX) is the least popular one with only 10 bullish hedge fund positions. Compared to these stocks AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: none.