Is Education Realty Trust, Inc. (EDR) A Good Stock to Buy?

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that cut their entire stakes in the stock during the third quarter. Interestingly, Jacob Gottlieb’s Visium Asset Management cut the largest position of all the investors tracked by Insider Monkey, valued at close to $1.1 million in stock, and Matthew Tewksbury’s Stevens Capital Management was right behind this move, as the fund said goodbye to about $0.6 million worth of shares.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Education Realty Trust, Inc. (NYSE:EDR) but similarly valued. These stocks are Blackbaud, Inc. (NASDAQ:BLKB), Proofpoint Inc (NASDAQ:PFPT), BankUnited (NYSE:BKU), and Jack in the Box Inc. (NASDAQ:JACK). This group of stocks’ market caps are closest to EDR’s market cap.

As you can see these stocks had an average of 21 hedge funds with bullish positions and the average amount invested in these stocks was $275 million. That figure was $140 million in EDR’s case. Proofpoint Inc (NASDAQ:PFPT) is the most popular stock in this table. On the other hand Blackbaud, Inc. (NASDAQ:BLKB) is the least popular one with only 14 bullish hedge fund positions. Compared to these stocks Education Realty Trust, Inc. (NYSE:EDR) is even less popular than BLKB. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock.

Disclosure: None